Google reader is a bookmarking service by Google. You have to use the standard login for your gmail account to use this service. You can add your bookmarks to the reader if you have that from any other bookmarking service using the Import feature. Click on Settings at the top right and you fill find the import tool. A particular format is used to export your subscriptions called as OPML. They also provide many widgets to add to your blog and you can now also view the reader in your cell phone. The best part what I like is the sharing. Your shared items will be visible to your friends from Google Talk. Google Reader makes it easy to find and read items that your friends have shared. If any of your friends on Google Talk are using Reader and sharing items, they’ll automatically show up in the Google Reader sidebar under Friends’ shared items. You can read these items in a combined list, or click the “+” icon to expand the list and see the shared items from each of your friends. Your friends will also be able to see that you’re using Reader. If you’re sharing items, they’ll be able to see those in their Reader sidebars as well.
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