Reader Stéphane M sent us news about a website he's put together called DoYouFeed that will apparently turn any RSS feed out there into an iPhone web app -- just punch your RSS/XML feed URL into the site itself, and you'll get a TinyURL back that you can bookmark in your iPhone to read the feed on demand. I'm not sure how scalable it is (there's probably a strain on both Stéphane's site and the RSS feeds themselves that could turn into trouble if too many people use it), but as a tool, it works just fine. There aren't ads on the first page you see of the feed, but there are some ads on the permalink pages of the reader, which again probably isn't too much trouble if you're just using the site for personal use, but on a larger level might ruffle some feathers.
Still, until the site goes down (for whatever reason), it's a pretty handy feed-to-web-app converter, and it loads quickly and easily on the iPhone (which is what all good web apps should do). NetNewsWire is free in the App Store, but if you don't want to get bogged down with a bunch of feeds at one time, DoYouFeed.com might be what you're looking for.