The Old Reader provides a web-based user interface.
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People from Facebook or Google can be found on The Old Reader so posts can be shared and discussed.
Pro Great UI
A clean, easy to use interface.
Pro Very similar to the dismissed Google Reader
Ever since Google Reader has ceased to be an option, The Old Reader has grown in popularity.
Pro Easy to use
Intuitive, easy to overview service.
Pro OPML import
Allows for easy migration from any service that supports OPML.
Free version has a limit of 100 sites, upgrade to unlimited sites costs $25/year. Being freemium is a nice option for those that would like to try the app out without putting down any money first.
Con Not free/libre
This application is proprietary, and thus cannot be modified, freely distributed, or trusted to be secure. Also, if the developer abandons it again, there will be no way for others to continue to update it.
Con No mobile app
Lacks an official native mobile app, but the mobile version of the site is quite usable and there are apps which support syncing with The Old Reader.
However, users have created many apps for a variety of platforms using The Old Reader API. You can check them out here.
Con Not very customizable
While the sources can be added or removed, the feed cannot be filtered in any other way. Display options are limited as well, leaving the user with the standard view.