My initial thoughts are that it's dead-simple (not what I had expected) with minimal functionality. The only feature I requested in my survey was to add a Mark All As Read -> Older Than A Day option.
I'm not too fond of the excessive whitespace in the reading pane. It could just be my browser.
It would be nice to know if that's just code for "no more signups" or if the problem is actually with my email.
I also agree that less whitespace would be nice.
On the plus side, lightning fast (especially the import).
For example, one of my subscriptions is Hacker News (http://news.ycombinator.com/rss). If I 'mark all as read' then the unread count goes to 0 and all articles titles appear in plain text, as expected. 10 minutes later the unread count is now 4. Click on that subscription and there is now maybe a dozen or more titles in bold text - and not just the top dozen (the most recent) but randomly spread out.