Because I know time is money here a few things I would improve:

statebar with more infos
it would be cool if the bar would provide infos like "feed n of x" to see how far the processed continued

disabling of feeds
Sometimes I follow threads (e.g. community forums) manually in the browser because I pay a big focus on the topic. So I would like to disable the feed for a short time and not to delete it.

disabling splashscreen
Well it is quite nice but I know I started FR ;-)

no update on startup
I have a dialup connection so i'm starting all net tools before (where I'm still offline) so just me let FR update manually

image caching
I miss a feature that on defined feeds the images were downloaded. Remember, I have a dialup only :-( Most RSS reader miss this feature