Great recommendations guys - Viigo rocks! That is exactly what I was looking for. Awesome way to keep up with my Engadget and Lifehacker feeds. Many thanks.
By the by, does anyone know if it is possible to have it display a message indicator in the desktop ribbon? I have it configured to give me audible alerts for some of my feeds, but it would be great if it would show a message indicator for when I can't hear the alert and I check my phone at a later time.
I have Viigo, but I need an RSS reader that caches content to the memory card. Viigo says its on their list but where and when this feature will ever appear remains unanswered.