I just noticed that the Feeds Gadget on Google Personalized Home Page has changed. Before this, it used to be just a link to the most recent posts (You could edit how many to show). But that wasn't a really good thing. Microsoft's Live.com has had a really great feeds gadget from the start (A la Google Reader gadget). So finally, Google has done something for it, they added a little +/- button to expand the items. You can see both gadgets in the following images. (I've always thought Google designs are ugly, and this confirms it even more).
Of course, if you're serious about reading feeds, you should go for a full fledged feed reader.