Wouldn't it be better to have the freedom to implement your own version of what the ultimate Reader is, especially in newer tech [ websockets, node.js, realtime updates, drag to rearrange widgets .. whatever ]
Id love someone to make a nice reader [and a nice mail groups] web app, Id enjoy working on these myself. It must be more efficient to build these things outside of Google, as a startup.
An RSS reader with nice UI, realtime update, location sensitivity, smart filters, and unobtrusive social features .. you had me at RSS :]