The concept is not entirely new though, as Gmail Labs has a setting to switch the unread count off from gmail labels.
I looked around to see if there are any readily available scripts to hide the unread count; didn't find any easily; and spent the next few minutes in hacking my own. And voila! You can find my script at http://userscripts.org/scripts/show/45551 .
And.. Oh.. Another thing, you will need the Greasemonkey addon for this to work! :-)
This is how my gReader looks before and after the application of the script. Be easy now, my heart!

