I haven't tested it, but I'm intrigued by Shuan Inman's Fever reader ( http://feedafever.com/ ). Basically the idea is that you separate your feeds into two distinct types: essential feeds that you read completely, and supplemental, high-volume feeds (aggregator-type blogs, like Engadget). Then the essentials are cross-referenced with the supplementals to see what you're likely to be interested in. I have a similar s…
"Fresh" ones I either read on the spot, or mark-all-as-read. These are the ones I usually check frequently, and very quickly. And I don't have to feel bad about marking all as read :-)
"Evergreens" are ones I like to read entirely, but not necessarily now.
I'm using Google Reader, but these days mostly through the splendid Reeder on the iPhone (http://reederapp.com/).