At the moment, I am testing Feedly and Feed Wrangler:
- Feedly is free, has ads but not many and so far has been exceptionally fast. Feedly can also be configured so it looks like a more modern Google Reader and has nice apps for iPhone, iPad and Android. Feedly won't let you search for words within your feeds although the developer may offer this in a paid version to be offered in the future.
- Feed Wrangler costs $19 a year, has no ads and has iPhone and iPad apps. There is no Android app. Feed Wrangler organizes apps in a very different manner than Google Reader or Feedly. Everything focuses around "Smart Streams" which in my experience have to be tried to be understood. I like Smart Streams but the web interface is slow when I click on my starred items. In addition, Feed Wrangler -- unlike Feedly -- does allow you to search your feeds for specific words but, in my experience, this is much slower than on Google Reader. I hope this will improve over time. The developer David Smith is very responsive and seems committed to creating a great service.