This Reading List feature looks even cooler with the latest build of Lion. One 9to5 Mac reader found out that webpages saved using the tool are synced with iOS devices. This makes using Instapaper on your iPad pretty redundant.
As you may already know, Instapaper is a great little app for iOS and Kindle that sucks in whole webpages for easy offline reading. It's particularly useful for reading long-form newspaper articles while in transit. But this brand new Reading List feature does that already, allowing you to sync your bookmarks through iTunes or MobileMe. That means Safari users who missed out on Instapaper will have no reason to check it out when Lion is ready.
Instapaper's creator wrote last month, "My biggest challenge isn't winning over converts from my competitors: it's explaining what Instapaper does and convincing people that they actually need it." Sounds like he has his work cut out for him. [9to5 Mac, Marco.org]