In the ATLAS experiment at the LHC, the output of read-out hardware specific to each subdetector will be transmitted to buffers, located on custom made PCI cards ("ROBINs"). The data consist of fragments of events accepted by the first-level trigger at a maximum rate of 100 kHz. Groups of four ROBINs will be hosted in about 150 Read-Out Subsystem (ROS) PCs. Event data are forwarded on request via Gigabit Ethernet links and switches to the second-level trigger or to the Event builder. In this paper a discussion of the functionality and real-time properties of the ROS is combined with a presentation of measurement and modelling results for a testbed with a size of about 20% of the final DAQ system. Experimental results on strategies for optim...