If you have an iPhone or iPod Touch, you need Instapaper. Even if you don’t and you still read a lot of articles online that aren’t necessarily bookmark-worthy or if you just want a better way (formatting and readability) to read and save them it’s still totally a cool site & app.
In the post about it’s current status:
…iPhone app: The next major version is in final beta testing. Very little work is needed to finish and release it. I expect this to happen within 1-3 weeks. It’s a major upgrade and I think you’ll be pleasantly surprised. Instapaper Pro will be upgraded first, with Free following a few weeks later. Either release may be further delayed if Apple rejects their submissions for whatever minor, inconsistent, or nonsensical rule they’re enforcing that day — but I expect approval delays to be short.
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I like it how developers are building in random often not understood app store rejections into when their apps are available.