Of the several news readers offered in Apple's iTunes App Store to date, NetNewsWire stands out as the most appealing. Unlike Mobile News from the Associated Press, NetNewsWire pulls in stories from multiple sources, and unlike Google Reader, it does so nearly instantly in a true native application (Google Readers whisks you to an iPhone-optimized Web application after you select it from a list of more options on Google Mobile.)
Like many other applications, NetNewsWire is the iPhone version of an already-brawny Web service operated by NewsGator, and one whose desktop versions CNET Download.com editors have already acclaimed for its usability on Macs and on PCs, where it's known as FeedDemon.
NetNewsWire for iPhone is a feeds repository, but a good one. You won't be able to add feeds at this early stage, but the application will syncs with any of your existing NewsGator accounts for NetNewsWire for Macintosh, FeedDemon, Inbox, and NewsGator Online. The application lets new users to sign up from the iPhone. You'll also be able to save posts in a clippings folder for later perusal, and read the full article on Safari.