Microsoft has yet *another* RSS reader
The new Windows Live Mail Desktop Beta is pretty cool if you happen to have a hotmail account and want to integrate the rest of your mail easily with hotmail on your desktop. But the first thing you notice is the RSS feed reading experience. In fact, you can't miss it. It shares the feed store with IE7 and Outlook 2007 (if you have things so configured) but adds a river of news view if you are so enclined.
They are even so kind as to put related search results and sponsored listings right there for you. They haven't seemed to have caught as much shit for this as Newsgator.