Which items should I include in RSS generation?
You should have one generic feed with all the new articles you post (for example: news). Additionally if you got your webpage split into categories, or you have some specific feeds (eg. calendar of the events) then it's good to create additional separate RSS for each one of them
What value should I set for pubDate? I do not quite understand how to apply this to my feed. I have new articles daily, should I set the pubDate to let say 06:00 AM today and update it every day?
Always set pubDate
to the time when your news/articles went online. So if you have new articles daily pubDate should be a date when they were released to the public. Not random hour in the morning. Not the moment when you started writing them.
lastBuildDate: if I understand this right is the date of the latest updated item?
lastBuildDate
is the most recent date when any of the results was posted or modified. Usually you should skip it - especially if your lastBuildDate will be simply a most recent pubDate. It's an optional parameter.
I use lastBuildDate only for calendar RSS feeds to show when the calendar was updated (as in calendars you not only add new entries but also often edit existing).