I'm using Bloglines and Google Reader, yes I actually use both, to follow a couple of educational related blogs, and for personal use, I get a couple of writing/author related sites. I find them very useful, as I've culled the ones that after first blush did not fit the limited time I've set for myself to read feeds. The challenge for me is that if I don't read them for a week, the box fills up fast. The sorting out begins, sometimes taking up my reading time.
But I always read the ones that are important to me, needed for my work or what I'm learning about. I think that's an important point. Make your blog relevant.