I bought this last night and it looks promising.
Reader Widget Free (Ad supported)
Reader Widget Pro ( Only came to 78 cents )
Since I don't use any Google reader app this works out great. I've only had it 24 hours but I haven't seen any negative effects on my battery (set at 2hour intervals). Also when I rebooted it asked me to set it up again. But it was less then a sweet tea at McDonalds.