I'm first trying to find a free RSS Reader made for the iPad... I've been tempted to try out the Early Edition which I think looks pretty sweet. I like the format of the newspaper style, although it may not be that practical since I can imagine how having 15+ RSS feeding into the Early Edition could be chaotic as opposed to being organized more like the Mail app with the left side being the RSS Name and the right side being the articles from the RSS etc...
I heard that Reeder is pretty cool and that it was submitted to apple for review and should be released soon.
Is $4.99 worth the price?? I did not spend more that $5 for any iPod touch app at this time and have been a bit surprised with the prices for iPad apps.