on the desktop, i go for google reader. what i find on the iPod (i've yet to receive my iPad) is that i go for the app. like marketwatch or strait times. i find it more convenient. you on the other hand find it less convenient that way.
That's interesting to me.
i also find it interesting you think apps are a fad. I don't think it'll turn out that way--- quite obviously. i think market forces, meaning people making money off the apps can be enticing.
i don't think this will be limited to iPads--- Google Android apps could be another vector, but you make a good argument re: that it would be like another browser to support. imho they'll support it too as soon as more and more people use mobile to browse the internet. iPads, iPhones, Android phones, are awesome platforms to make this happen.