I've switched to using BlogLines to read blogs.  It's an on-line web based service, similar to many others out there I suppose.  I couldn't tell you the pros and cons v similar sites but I can tell you that for me it's better than an offline windows reader.

Why?  Well, in no particular order, heres why:

1) I don't get bothered by it as often as I would with NewsGator or Sauce Reader etc
2) It works.  Sauce Reader has been beta for way too long.  I don't care that they had to rewrite the darn thing, others have managed to get working products in much less time.  NewsGator would be OK if I could get it to work at work.  I don't think it likes Outlook 02.
3) Bloglines has a downloadable windows notifier that you can set to check every minutes or day or whatever and it doesn't use googleplexes of ram.
4) I can have one single place with my subscriptions.  Previously I had to have the subscriptions on my work and home machine(s) and they were never in sync.  NewsGator offered a way around this with their on-line service but I didn't manage to get this working.
5) Bloglines is free and very easy to setup.  Plus you get a blog site there if you want it.
6) Bloglines has email subscriptions.