Website: www.instapaper.com
iPhone site: N/A
App Store link: [1]
Cost: Free
Uses: Network 
I’ve raved about Instapaper [2] cause it does one thing well. I used to keep tabs open because I wanted to read something “Later”.  Now I can click on that “Read Later” bookmarklet on my browser and close that tab. I also love that after I click that link and read the article it takes the link out of the queue.
Now to my delight there is the Instapaper app. It downloads the  10 most recent marked stories so you can read them offline. Very handy for when you’re stuck waiting somewhere.