The new RSS reader that popped up on my daily radar for cool stuff was Gregarius, an RSS reader that runs on your own web server using PHP, MySQL or SQLite. These kinds of tools are especially useful in conjunction with things like XAMPP for a localized and faster experience. The essential software is based on the Magpie parser and it packs a mean lean interface that I enjoy.
The interface, much like Google Reader, utilizes the maximum of JavaScript's capabilities without completely disorienting the user. It is also 100% GPL'd code, and free for download. If you do not own a webserver, it might just be fun to use a localhost install on your desktop computer to experiment with the PHP behind the magic.
If people start turning something like this, and open source project, into a full-fledged web service, we may see more tight integrations along with more robust feature sets in our web apps today.