+Louis Gray describes the new Google Reader interface changes. So far, I only dislike the fact there's no more shared items. Lots of people had some automated functionality tied to that. Now it's just gone. Grrr. But the changes are fine otherwise to me.
I don't mind the spacing, but the use of red for selected items in the left-nav, which has never bothered me in G+ (guess I don't switch streams much), is useless for those who are red-green color blind. Great UX, Google! :^p