My setup is very similar to yours. I have organized my feeds in four groups:
- 1. Essential; These are the feeds I absolutely have to read.
- 2. Interesting; These are the feeds that I try to read completely.
- 3. Bulk; Regular feeds
- 4. Triage; These are new feeds that I try out for several weeks before moving them to the other categories or deleting them
I usually read my feeds once a day during breakfast, and reserve about 30 minutes for doing so. I start with groups 1 and 2, of which I read all. Then change Google Reader to show all feeds and read until time is up. I mark the remaining feeds as read and move on. In the weekends I tend to spend some more time reading feeds and don`t set a time limit.