I didn't know dlvr, but from what I read I think it is somewhat equivalent to IFTTT + some pipe functionalities.
I guess it can be better to use your tool if you need little control/modifications/tweaking on your feed and advanced alert services (IFTTT-like).
Pipe is an extensive service to edit feeds from the ground up, as you can even create feeds. I'll let you check out the available pipes through the search field to get an idea!
It also includes "badges" which provide for minimum alert services (basically an HTML renderer of feeds).
My preference is to use both Pipes and IFTTT as they each specialize in their respective fields, and they provide a pretty great and complete service. I'd fear some limited half-assed service from a single provider combining both fields. I welcome your feedbacks though :)