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I don't think you can do this with rsync, as it will not output data to stdout like tar can. Also, most versions of tar these days support the "-z" or "-j" flags to compress the archive using gzip or bzip2, respectively, so that old "tar cf -|gzip - > filename" hack is redundant.
What are you trying to do? If you want to make compressed backups of a remote machine, consider using something like 'ssh user@host tar cfz - directory > localfile.tar.gz'
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