I love my RSS reader. I use Google's Reader, and I've been adding feeds for about two years. At first, I was obsessive about reading, or at least skimming, everything in my list. That could be a few hundred items a day. I wouldn't actually read three hundred items in a day, but I'd read the headline, the first sentence or two, and then go on to the next item. If it was interesting and short, I'd read the whole thing (maybe 20-50 items a day) and if it was interesting and long, I'd open the story in a tab in the background (maybe 5-10 items a day).
I've cut back quite a bit from that, but I still read many news stories and blog posts in my reader. But I've been questioning how few I can actually read. Every hour I spend reading news is an hour I don't spend reading books, and I usually get much, much more out of reading books.
