Consider this a useful place to discuss managing whatever blogs you read.
I currently have over 1000 subscriptions in my RSS reader and I haven't found a good RSS reader to manage all of those. I'm currently thinking of splitting my feeds between two readers, possibly a politics/non-politics division because most readers seem to get bogged down dealing with large numbers of feeds.
I have roughly three categories of feeds that I subscribe to: favorite feeds which I track daily and read most of the posts, such as here, Street Prophets, Talking Points Memo, and the personal blogs of certain friends; daily feeds where I browse the post titles and read what interests me, such as news feeds; and lesser feeds which are there for partly completeness for when I do searches and partly because I browse post titles on a weekly or less frequent basis. (And if you don't meaningfully title your posts, I'm usually not bothering with your blog.)
Historically, I've probably tried a dozen or so. I started out with Feedreeder, moved to BottomFeeder, and have recently been experimenting with Google Reader. Along the way, I have tried and discarded RSS Bandit, Sage, and BlogBridge. Those aren't necessarily bad RSS readers, they just didn't fit my preferences, which include a three-pane reader and the ability to create sub-folders.
What works for you? I added a poll, but there are so many options out there, that I'm not sure what good it will do.