Google launched the new version of their reader over the weekend and, I have to say, it's really nice! They made it easy to understand, easy to use, and described in a way that even novices can understand. So even if the terms RSS, JSS, Atom, XML or news feed don't mean anything to you, you can still get a lot out of the Google Reader.
They describe it as an "inbox for the web." It tracks the sites you like (via RSS) and brings you the latest stories, pictures, videos, whatever. And the interface is very similar to Gmail. You can share you feeds with others and just generally keep track of the whole web in one place (not really).
Check it out! I'm going to start using it and I'll report back with what I think.