Google Reader is a news feed reader which very few people noticed until yesterday when Google announced that the service shall be shut down completely from July 1. Realizing the importance of a news feed reader, that allows you to find news of your choice and in the specific area of interest, people just started looking for alternates for Google Reader.
The tip is not to do it. Do not search for an alternate right now. Keep using Google Reader and personalize the content as you need. Since Google announced a shutdown, other competitors will tweak their product to be the best to win the market share of Google. Newer competitors will emerge by July. So whatever alternate you find to be best now might not be the best in July.
Also, if enough people start using Google Reader, the company may as well bring back the service with the numerous patrons it attracted in the mean time.
(AW- Anil)