One of the only RSS readers that isn't slow, overcomplicated or missing something vital.
Let's get this out of the way: It's a shame to have to pay to read free news. And yeah, NetNewsWire is a solid free app, and Google Reader's web interface is nothing to scoff at. Newsstand, though, is good enough to keep you from opening Safari for days on end, and crams the day's news into your skull as fast at you can absorb it, by means of a terribly efficient interface. Synced with Google Reader, it's news junkie bliss.
From The App Developers: Newsstand is a full-featured RSS reader for your iPhone with a unique interface. Skim over the latest headlines on a beautiful rack of newspapers or use the powerful classic interface to read and organize feeds.