Google reader will be discontinued on 1 July by Google.
I’ve been using Feedly for the past month or so. It has improved during this time, especially the PC version and has practically all the sharing options one needs (Evernote, Instapaper etc). However, it looks a bit “busy” but it’s my preferred option if i want to read something on the PC or on the phone.
Another application was recommended to me recently which is only available on Android right now. It’s called gReader. It’s more plain looking but probably more functional. It reminds me of the official Google version. It also has a lot of sharing options, not sure if on the same level of Feedly though. It’s good but i’ve noticed some lag when using it lately i.e. not very responsive when clicking on stuff. But if you are just using the reader as an intermediary to send articles to other applications such as Instapaper i prefer it from Feedly.