I think The Old Reader is the best replacement for Google Reader because it seems to be the only RSS reader I've found that is actually trying to do what Google Reader did. The others I've tried (specifically Feedly and Netvibes) seem to have different goals but can be adapted to behave similarly (but not the same) to Google Reader. I actually went with Netvibes for about the first month after the GR announcement because TOR was pretty lacking in the feature department and extremely slow due to the crush of new users. However, TOR had been rapidly updating the feature set, and I switched back over after they fixed up the mobile site and expanded their keyboard shortcuts among other tinngs (they've been great at adding features requested on the user feedback site).
When picking out a replacement to GR, I thought the most important thing was having the same goals as GR did in order provide the same functionality, and TOR has that in spades. I've never figured out why Feedly gets so much love in the GR replacement posts on tech sites. Need to install a browser extension? Yuck. The app wants to look like a magazine? Yuck. If you want to a pretty app to read articles like a magazine on your tablet, Feedly is nice, but it's not a replacement for Google Reader. The Old Reader is, especially now that the mobile site works as well as the Google Reader app ever did.