If the feed is being hit a lot from multiple different sources the best idea I can give you is that you cache a static version of it.
Nginx (
docs,
DO tutorial) and Apache (
docs) both have support for caching the output of PHP, or you could use something separate like
Varnish, but that will take a lot more work.
You could even build a small MyBB plugin that will purge the cache of the feed whenever a new thread is made.
If you don't want to do that then you could try and profile the syndication.php file and find that slowest sections and work on cutting them down. Some options here:
http://stackoverflow.com/q/21133, personally I'm a fan of Xdebug and Webgrind.
From a quick look the file doesn't seem to do a lot, but it will execute all the global plugin hooks, so unless you have a need for plugins to be executing things on the feed then you can try
define("NO_PLUGINS", 1); up the top to stop it loading them. YMMV.