Still figuring out how the program works, but I have a suggestion. I notice that the "categories" only apply to channels. Unfortunately, many blogs and other feeds are diverse enough that this is not always going to be a good approach to the problem of organizing feeds. A channel might come under several categories, but while viewing that channel, many items not fitting that one category might appear.
How about allowing for categorizing individual items in channels?
This would allow something else that I'd really like to see -- virtual channels. For example, If I tag individual items from several channels with some category, it'd be nice to have a "Category view" in My Channels, that would consolidate items from all the feeds under categories, rather than genuine feeds. Items might appear in several categories, of course.
Another idea: keyword assignments to individual items in a feed, with search results sorted by score appropriately.
Needless to say, a lot of this relies on retention. As a usenet veteran, I've kept everything I've been involved in. Doing the same with blogs and other sources of information creates an autobiographical record of my interests -- something perhaps of use to my children after I'm gone in the case they have a morbid intereste in parsing ancient news and analysis of by-then-moot history.
With the latter point in mind, I'd like to see richer report options, with one option being to cache content locally in a way that'd be simple to present on a CD, for example.
Great looking product. Keep up the good work.