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I follow hundreds of RSS feeds as part of my work on ZDNet, and on the desktop I use Google Reader. I am not a fan of the Google Reader app for Android so I use Newsr. Newsr works with Google Reader to keep everything in sync, and has a good display with a multiple column format that presents a lot of information at once.
Everything you can do with Google Reader you can do with Newsr with just a few taps.
Free on the Android Market