I'm pleased to say that I've just released version 0.1 of Nibbles, an alternative RSS and Atom feed reader for Maemo. A big thanks to the people who were kind enough to help out with the pre-release testing, you've been (and hopefully continue to be!) a great help.
Nibbles is quite stable, can parse a wide variety of feeds and is pretty bandwidth efficient. Nibbles is finger-friendly and does aim to be a good mobile feed reader, but things like downloading of full offline articles didn't make it into this initial release (I have some working code for that, but it's not working enough!). New users might want to know that the zoom in/out hardware buttons hide and show the feed and article lists.
Of course, since this is a first release, things aren't perfect. The biggest problem for me that I think people should be aware of is that Nibbles uses too much battery power. This is detailed in bug #2342 and is really a problem with ruby-gtk2 rather than Nibbles. As I said, with some luck, the next ruby-gtk2 release will fix this.
You can install Nibbles from the project page.