I always found the idea compelling. I've tried using readers. Taken time to put in my feeds, but it never really became part of my routine. When I've been away loggin in feels like a chore. Frequently updated feeds drowned out the others. There hvae never been conventions that work around it either. What happens when an entry is updated, for example. What happens when you click the rss icon. etc etc.
I really wanted rss (and I still use it) but it was never right.
You should give a try to http://www.newsblur.com/
It comes with an intelligence trainer that will present the new entries based on your ratings of previous entries.
It also have very simple keyboard shortcuts to view the entry on the original site without leaving the window at all.