According to Philipp Lenssen, an internal Google talk with confidential information on Google Reader was briefly available on Google Video.
Philipp posts a summary from someone referred to as "Fanboy". Ionut Alex Chitu also posts two summaries ( ) of the content of the talk. Worth a look.
There is mention of planned social sharing features, details on the internal operations of Google Reader, and various statistics on feeds and feed reading. It also sounds like they plan on launching feed recommendations soon.
Impressive that the team working on Google Reader is so small, just seven people.
Update: Three months later, the feed recommendations have launched.