I personally favour keeping interfaces clean and unused vertical spaces to a minimum. I recommend using the site's keyboard shortcuts (type "?") for navigation and turning off most of the social networking icons.

"Title Only" presentation view should be adjusted to Firefox's default mousewheel scroll factor mousewheel.default.delta_multiplier_x=100. To make the successively selected items 'static' on the page when scrolling, they need to retain the exact position. Make sure that you change the smooth scroll setting general.smoothScroll to false.

I use this in conjunction with the userscript "Feedly Colorful Listview and Tweaks" from Kenijo. Also try using the http://userscripts.org/scripts/show/176103 to use a delimited list of keywords (regex) for automatically marking items as read in the "All" list!

(sorry I don't keep a good record on changes)

CHANGES:
2013/10 initially, I reduced the enormous bloody vertical space quite a lot
2014/02/02 extensive rewrite!  dark theme, professional look using devtools/responsive-background.png
2014/02/05 many important fixes, I don't think I've forgotten anything now... 
2014/02/13 ... oops I forgot a lot of stuff. Removed inconsistent styling by re-arranging, improved "Title Only" view, clickable elements, among many other things. Should do something about the 770+ lines...
2014/05/01 working on the new interface of Feedly v.19
2014/05/12 completely new style, 200 lines.