There are plenty of great newsreader apps for iOS (and Mac OS X, too), but if you like the traditional newspaper format but prefer the convenience (and content) of your RSS feeds you'll really like Pulp.
Pulp takes your feeds and turns them into a digital newspaper, providing you with text previews and images instead of just headlines. Pretty much everything is customisable, from the newspaper categories to what's inside of them. Pulp isn't a traditional newsreader in the sense that you don't really grab RSS feed URLs and add them manually (although you can). Instead Pulp helps you search and browse for web sites you want to keep up with and then adds them to your paper. If at any point you want to read the full article and only an excerpt is available, you can use the Magic Reader feature to provide the full article in an easily digestible format. You also have the option to share anything via Facebook and Twitter.
The major downside to Pulp is that it doesn't support Google Reader. Nonetheless, if you think about how it operates it isn't really the type of feed reader for people using Google Reader. It's more about casual reading, and enjoying quality over quantity. Plus, if you have both Pulp for iPad and Mac you can sync between the apps. Pulp won't be a great fit for everyone, but if your iPad is your go-to "newspaper" it's definitely worth a look.