Reeder is the app I use the most on my iphone and my ipad.
its an rss reader. it syncs with your google reader account.

you can view starred items and you can star items too.

thats it. its very simple.
why do I use it so much?
i use it because it works perfectly. it delivers my news feeds to my iphone and my ipad, and marks them as read in google so that I dont have to re-read the same news items over and over.
its interface is also excellent.