[danh]

I'm using essentially the same strategy. Basically I split feeds in two categories:

"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/).

[tortilla]

I really like Reeder for the iPhone. Google Reader fluid app on the desktop and Reeder for the iPhone works great for me.

[neonfunk]

Reeder for iPad is great, too; really fast UX.

[evaneykelen]

+1

[omaranto]

I'd use Reeder if it weren't for the fact that I read a bunch of math blogs and Reeder usually doesn't want to download the PNGs of formulas produced by the LaTeX plugin for Wordpress. It's OK on other feeds I've tried it on.