I'm with you that we want to make the users job as easy as possible (as well as the admins), simplicity is a big part in that. So forget the idea of an extra list.
Lets keep it simple for the user/admin. This isn't about a special niche, I want to make sure the News Feed is using the best practices for displaying news to the user. So in this case I'm rooting for all of us to get the best usage of the stream data, and your the conductor who reviews if the logic is sound and creates for a better user experience.
The StackIdeas team decided to include "Me" in the "Friends" feed to fix the problem of not seeing your post as you post in the friends feed. In your own words "There's actually no particular reason behind it... Otherwise, they can't see what they posted".
The proposal I gave above was about making a work around for the issue of not seeing your posts when posted into the friends feed. We both know that it is important for the user to have confidence that their post went into the news feed. So the StackIdeas team countered this issue with a simple method of showing your post's too (the Me part). A respectable method. But better practices still could be used to counter the original issue and display only their friends activity without compromising your latest posts from being displayed.
The method I proposed was to have the "Me and Friends" feed be changed to a "Friends" feed and display your latest posts (not your latest activity). When making a post in the "Friends" feed, it could display for 10 minutes so that you (the poster) know it went in and everyone can see it. This method does not require any additional work for the user. I conducted a test on Facebook today that confirmed that they use a similar method to the one I'm proposing.
When I posted several test posts on the activity feed, for the first moment all the posts were there. After 3-8 minutes all the posts went off the feed. I don't think it's related to the number of friends I have (I have less than average on facebook). I'm not trying to get EasySocial to be like Facebook, but I am using them as an example of their method being quite successful of feed display. We the viewer are more curious about what others have posted than our own post. Am I correct on that statement? We can still view our own post on our profile. Right?
On Facebook this issue doesn't really occur because as you scroll down, it loads other people's post, not your own. But on EasySocial, even today I used a test profile (Darius) and saw the feed filled with Darius's post even though I did some tests from another user they were following. It's not that I can't view their post, but is that I have to do a lot more looking. Seeing "Darius logged in" and many other posts like it make it even more cluttered for me to view my friends activity. I already know that I logged in as Darius, so from my stand point it seems silly to see this in the very top of the feed (Me & Friends). Log in to the EasySocial demo and you will see this right away.
The method I'm proposing is simple, but I explained in lengthy detail because I wanted to give you some more insight on why. I don't want to hijack EasySocial to meet my own needs. I do however believe EasySocial should use the best methods when ever possible.
The biggest reason for this proposal is for the sake of simplicity for the user, to shine the idea of easy use for socializing.
I attached a screen shot showing exactly what I'm proposing. The parentheses statement is just to show how long it would display in that feed. Be sure to see how the feed list is setup on the left too (which is almost the same as it currently is).