Afore the impending demise of cheatin' taxweasel Google Reader, I have moved all my RSS subscriptions to The Old Reader. And very good it is too, doing exactly what it says on the tin. The mobile version also works great, better than Reader ever did. And this simple cloud-based solution syncs to all your devices.
Feedly just doesn't cut it for me, and Flipboard - well Flipboard (which I like for what it is) is the eye-candy in the undemanding Saturday night TV schedules of the Internet. If you're a serious RSS user like me, I suggest you give The Old Reader a spin. And if you like it, make sure you donate to keep it going.
But is it sustainable?
So far, 285 people have donated. I don't know how much the hosting and bandwidth costs are going to be for this service, but if it takes off, they will be considerable. I don't think donations alone will cover this. A freemium model might be another option, but without Google's deep (tax-lined) pockets, The Old Reader is going to have to make it pay somehow.