As a long-time ReadItLater user, I'm not too impressed with the "Pocket" rebranding ("Read It Later" made it obvious what it did) but the new iOS app solves most of the issues I had with it (it auto-resolve bit.ly links, pulls in titles even if the client app didn't add them, etc). And it looks much better.

Readability still has a more readable text-only view but I assume Pocket could just tweak the CSS (slightly larger font, larger line height).

I am worried that everything is free now. I preferred to live under the impression/illusion that my money had gone to fund the infinite existence of the service. Now it's totally at the mercy of investors / potential buyers.