One of the coolest RSS reader tools I use (and I do use several) is Serence's free KlipFolio. It's wholly unique in its approach to presenting news and blog headlines. Unlike the traditional RSS readers that feature an Explorer-like folder structure and a preview window, KlipFolio sits on your desktop as a collection of "klips," which are essentially interchangeable panels full of scrolling headlines. The klips are completely resizable and highly configurable, with many "skins" to choose from. You can even control transparency. Klips snap together like legos as you drag them around, allowing you to arrange them however you want.
When you download KlipFolio it has a few Klips pre-installed, but there is an endless supply of Klips available at the KlipFarm. Just click the "Show Preferences" button in the upper left of the menu bar and select the "More Klips..." button. You will be whisked away to the KlipFarm where you can hunt for Klips to your hearts desire. There are Klips for CNN, Wired, Slashodot, LiveJournal, and all the usual suspects. If you can't find what you're looking for, just download the "Feed Viewer" Klip and you can add whatever RSS feed you want.
I recently discovered a Klip for Monster.com that lets you watch for jobs that match criteria you select. Now that's handy!
Check out KlipFolio at Serence.com.