Assuming of course you use reddit for communication, for me it would be more about finding interesting pieces of information and seeing the analysis of other people, by the time I get to it most of the discussion has already occurred. For me personally Google Reader does not make more more productive, it is just another way to waste time.
I have exactly this problem and this is a good solution. So just to make it concrete if you want to block reddit as above I used the following..
Get Leechblock Add these into the specify site section +reddit.com/r reddit.com
So far this works well, I am not sure yet whether reddit puts anything in a different subdirectory.
2pm