Mom always taught us to share and now we know why, because it's fun. As of tonight, Google Reader has the ability to share what you like to read with your friends. You can send a link to your starred items in Reader, or you can put a clip on your blog with recent items from your reading list (as shown below).
Give this a little test drive if you like, preview 'My starred items' in Google Reader. If you like my list you can subscribe to it from the preview screen.
Additionally, if you use the tagging labeling feature of Reader, you can label items and share them. For instance, I mark all of the blogs I read from my hipster friends in Reader 'hipsters' (if my hipster friends aren't your speed try my tech list). Even if your friends use a feed reader other than Google Reader, we won't be upset. You can direct them to a feed of any of your shared labels.
You control the privacy or shared nature of your lists. To begin sharing your reading lists or add a clip to your blog, go to reader.google.com and open the Share tab. Check the 'shared' check box to opt-in to sharing your starred items or selected labels. Enjoy!
Update on 3/23 by Mihai: I've posted some more techy information about sharing on my blog.