The Google Reader Team Blog has released a new beta version of Google Reader designed for the iPhone and other mobile phones with advanced browsers to take advantage of the iPhone's capabilities. You can use it by visiting http://www.google.com/reader/i/ on your phone.
This new version is designed to offer many of the same features as the desktop, while making it quick and easy to act on items. If you've used list view, then it should be familiar to you. Scan the titles for an item that interests you, tap and it expands in place. Starring, sharing, and keeping unread are done in place, so you never have to leave the list view or refresh the page.
Since it's still in beta, you’re not automatically send to it, so bookmark the site so that you don't forget the address (http://www.google.com/reader/i/).