Reeder 1.0 Draft 16 is out now. The beautiful Mac desktop RSS reader for Google Reader has added subscription management to this latest release as well as fixing a few bugs.
Subscription Management allows you to add RSS feeds directly within Reeder.app instead of having to first login to Google Reader. You can also create folders and manage your existing feeds within Reeder.app.
If you already have Reeder installed on your Mac, load up the app and go through the automatic update. If you want to check out the beta of Reeder, then visit this link and download the latest version.