It's been about a year since wordpress.com released their RSS reader functionality.
If you have an account on wordpress.com, this link should take you to the reader.
It'd be interesting to speculate on what might be in a new reader.
1. I have subscribed to several feeds but only one appears to be updating today. That should change after I publish this post, since I am subscribed to this feed.
2. Their UI says that you can subscribe to a blog, but that's confusing -- I have feeds that are not in any way associated with a blog. How can I subscribe to them? (I assume they will accept the URL of a feed, in addition to a blog.)
Update: You can enter a feed URL.
3. There's a ton of whitespace on the reader page. It's nice to have a little space between items, but it's also nice to get some news on the page too! (Sorry for the sarcasm.)
4. Is there a way to import or export an OPML subscription list?
5. I would, if I were them, strip the markup from descriptions. When I'm skimming, the markup is disruptive. The goal should be to have every post take exactly the same amount of vertical height, and not very much. They human brain is great at skimming, if you set things up the right way.
6. This is what my ideal for a reader looks like.
7. BTW, I like that they did a river of news, and not a mail-oriented reader. It's the right way to go, imho.