I have been using Google Reader as my RSS reader for a few months now. It has the main requirements that I have for reading blogs:

• is a web service not a separate application
• lets me easily place a blog article into a new tab to read
• lets me quickly scan articles from a blog so I can select the ones I want to read

Google reader uses Ajax and keyboard shortcuts to quickly move from one article to the next and I find it quite convenient to run down the list of articles from a blog.

Adding and manipulating blogs is also done via Ajax and is pretty straightforward.

I had been using Bloglines but like Google Reader slightly more.