Arc90 has released a nifty little bookmarklet called Readability, which strips away all the extra stuff (nav, ads, Digg buttons, etc.) from news article pages, leaving you with some nicely formatted text to read. It's a "peace & quiet" button for your web reading. Get the bookmarklet here. I tried it on a bunch of open articles I've got up in tabs and it worked pretty well.
Update: It's on! Michael Donohoe has whipped up some Javascript that blocks the Readability bookmarklet from doing its thing.