$1.99? No thanks.
Actually, what I find interesting is that I see an increasing number of websites make a non-free iPhone application of their site, while the site itself remains free. In the discussion whether or not many '2.0' (yeah, i know..) sites out there will ever be able to make a profit, it seems strange that a fair amount of said websites do not offer a non-free version of their sites as well. People obviously don't mind paying for something they see value in; and the iPhone app might prove that the site's readers actually see value in reading the site. Of course it might just be the "iPhone effect" that makes people get used to the fact that software can also have a price tag. Just had to think of this as I remembered a nice anecdote about a forum that started charging money to get rid of spammers and made quite some money as a 'side-effect' ;)
(I actually don't know reddit that well myself, so I don't know if they offer a paid option to see the websites without ads; so it's more a note about free websites in general)