Instapaper is an easy to use free web tool that lets you save web pages for later reading. Once the Instapaper bookmarklet is installed on your browser, use it to save web pages for reading later. You can read them online through your browser, on your mobile phone, and also on the iPhone and the iPod/Touch.
Basically Instapaper acts as a bookmarking tool, but also allows you to read just the text of an article, stripping out the graphics and images. This is great for text rich resources such as online newspapers and magazines. Also it makes reading content your your mobile phone browser much more satisfying.
The iPhone and iPod/Touch applications are interesting in that they allow you to sync your content and read offline. They also take unique advantage of the built in accelerometer of the iPhone/iPod Touch and you can scroll through the text by tipping the device up or down.