The free (Lite) version of Greed appears on AppBrain, but when I try to DL it, it gives an error on the phone. Searching the Marketplace on the phone only show the $1.99 version.
EDIT: Downloaded NewsRob and will see how that works.
Newsrob doesn't separate by feed, so that's a no-go for me. The only one that integrates Google Reader pretty well for me and separates into feeds is GDroidReader. If someone can come up with something that has a better UI, please let me know.
I struggled finding a good app too but eventually realized that Google Reader in the Internet browser works great. I was using NewsRoom on my old Pre but was reluctant to spend another $5 on a license for Android.
I like NewsRob too. It syncs with your Google Reader instantly. Remember to go to the settings and allow 1,000 items so that you see everything on your reader. The default is 50.