Well, I bite the bullet and bought it.
And to be frank, I'm not a big fan of the app. Scrolling doesn't feel quite right, and the embedded web browser is horrible. This is a workaround for now, but once 4.2 comes along, those crappy embedded browsers needs to go.
I've used Twitter for a similar purpose, and thought RSS would be a better way to keep up with news. But I actually preferred Twitter to Pulse.
At least it was only $1.99. I'll probably try Reeder or River of News.