My quick impression after 10 minutes of use against Feedly.
I have been using Reeder on iPhone, iPad, and Mac for many years. On the iPhone, Reeder 2 for iOS is not a huge upgrade over Reeder for iPhone 3. The UI has more spiffy animation while looking more mature and cleaner overall.
On the iPad, however, the app is a major update with more sensible navigation and gesture.
The app is not optimized for iOS 7 but font and icons do look more iOS 7-ish.