I use FeedDemon as my default Feed Reader. It is a great reader and has some great features. I noticed that the good folks over at NewsGator have made available their entire line at a discount as a holiday special.
As of today take advantage of the special by putting the promo code NGHoliday in the shopping cart. That would make a copy of FeedDemon $19.95 US, bargain! There are also products for Mac. I can not speak for how good the Mac products are as I am not a Mac user. Please comment if you are aware of how the Mac products perform. Twenty bucks is a great deal for such great software. Definitely worth a look if you are after a great standalone (as opposed to online) RSS reader at a good price. Also check out their other products, you might find something you like.
Please note this is not an advertisment, I do not work for nor am I paid by NewsGator. I do however genuinely highly recommend their software and service.