I've come to depend on Google Reader to keep up with all the blogs I love to read, so I was upset to find they are pulling it soon. I've checked around and tried a couple of the other offerings, and have found two that meet my needs.
(1) The Old Reader http://theoldreader.com
I tried this one first, but soon gave up on it, as it wasn't updating the posts and only showing about ten of the many to which I subscribe. However, today (about a week after I first subscribed to it) I got an email from them saying "We are happy to inform you that we have finished importing your subscriptions. 110 feeds you imported should now be available." Sure enough, they were all there! Actually, they picked up about 20 blog entries from every blog to which I was subscribed, some going back a year or longer. There is one place to click at the top to "mark all as read", so it didn't take terribly long to clear the entire page of all the old posts.
Pros: If this one updates as it should, it will be almost identical to the Google Reader we're used to.
Cons: Importing from Google Reader wasn't the easiest.
Right now I'm giving it two thumbs up.
(2) Feedly http://www.feedly.com/
When I couldn't get The Old Reader to load the content, I tried Feedly. It was a breeze to get the subscriptions imported, just one click on the main page and no import/export to fool with. It has options for how you want your page to appear, but I've fiddled with them and never have got anything close to the Google Reader of which I'm so fond. However, it does work well enough and there have been no problems with updating.
Pros: The ease of transferring all of your subscriptions.
Cons: It just doesn't have the look I'm used to, I'm such a creature of habit.
If you are a Google Reader user, I'm sure you would be happy using either of these programs.