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If you're one of the lucky ones to get an iPhone today, and you want to use Google Reader on it, developer David Cann has a smart solution. The "Google Reader iPhone skin" uses javascript to provide an iPhone-sized interface for your feeds.
Here's how it works: you go to his site, drag the bookmarklet into Safari 3, visit Google Reader and click the bookmarklet. In a Greasemonkey-like fashion, it will change the look and feel of Google Reader using dynamically loaded javascript. And if you're not lucky enough to land yourself an iPhone, you can still test it on Safari 3 for Mac or Windows.