I have used both Reeder and Pulse on and off, and liked Pulse better for the nice visual layout with images. But, I have always found it hard to follow, say, 30 or 40 sources, in Pulse due to the large amount of scrolling and view switching required.

I just found a new app, DailySync, which has a nice visual layout, but also has a much more efficient way to keep up with a large number of feeds. This app includes a Facebook/Twitter client, and interestingly, a calendar client, too.