At a technical level, Reading Lists are done, but this is just the beginning of the bootstrap.
You can see in this screen shot that there are now two sections to the Subscriptions page. The top section lists the Reading Lists you're subscribed to, and the bottom section lists the feeds.
When you subscribe to a reading list you effectively subscribe to all the feeds it contains. The editor of the list can add and remove feeds and your aggregator automatically stays in synch.
Of course you can choose to unsubscribe from a reading list, and when you do so, you unsub from all the feeds in the list, unless you were already subscribed to a feed, in which case you remain subscribed.
Now that the first step is done, the software is basically functional, we begin the next stage, working with editors of reading lists, and writing docs and guidelines. I will also have some tools that make it easy to create and edit reading lists using the OPML Editor.