The new Google Reader interface for iPhone is out!
It is a LOT faster than the previous version, it loads the posts inline when you open them so there is no page reloads.
It only has the "Share" and "Mark as read" options so far, but like the post says, it's the first public beta.
And it even comes with a neat icon when you save the bookmark to your home screen.
Point your iPhone to http://www.google.com/reader/i/