Looking at your iTunes page, when it first loads the description I can see of the app does not make me want to buy it.

Because of the Christmas special text you've put in, all I see about the app is "Read is a beautiful and revolutionary app to consume your favorite news, blogs or stories. Flick left & right to jump"

Lots of people claim their apps are beautiful and revolutionary. I have no idea if your app is either of these things, but also neither of these points is particularly useful for me to decide whether to buy it.

"Read your favorite news, blogs and stories without adverts" would sell it more to me. You either need to convince me to spend the money with that one line, or at least to click the 'more' link to see the whole description.

When the description is expanded, the list of features needs to be adjusted. I have no idea what "Casual Google Reader Integration" is, rather than normal Google Reader integration.

Personally, I would re-order this and put "Get rid of all the Ads & Clutter with our Clear Read technology" at the top - say what the feature does before what it's called.

Second, I'd put your point about streams.

As the third point, I'd probably have "Read more easily with our hand-picked fonts." or something similar

The other points I'd probably split in to a separate list. They feel more like details that I'd kind of expect in a reader, rather than big selling points. However, I'm not an iPad user so I'm not comparing this to other apps I've seen.

Personally, I'd have thought mentioning Instapaper & Read it Later would just remind people they already have an app that makes it easy to read some content they are interested in. However, as I said I'm not particularly familiar with this space, so that could be good. I'd definitely have them down on the list of features though, as that sort of point starts confusing people who don't know about those services.

Moving to the website:

I can't see most of what's going on in the app when I click on the links as the mock iPad is mostly off the screen when I'm reading the text. Also, your tag line is going to be 'below the fold' for most people when they load the page.

What's with the weird eye in a ring?

The text doesn't sound particularly professional, e.g. "Going through articles is an estimated 170% faster than regular browsing. Since all the clutter is gone, Read will only load the most important stuff: content."

"Going through" and "stuff" doesn't fit with a pro reading app. Also, "estimated 170% faster" sounds made up.

Looking up forgotten words doesn't fit under "Personalized".

Under "Simple" you say "Don't think of Read as a feed browser", which I wasn't, as I can't tell what it does do on the website. I can guess it's an app to read stuff in, because of the name and the amount of text on the screenshots, but you don't actually tell me what the app does on the website.

Personally, I'd move the mock iPad over to the left, then put some text next to it on the right which tells me what the app does which is unique and why it's nice to use. You can do extra selling underneath, once people know what the app is.

I'm sorry if this comes across as a bit brutal, but you did ask. From what I can see you've done a load of work in the app. Getting the website and App Store description improved should be a whole lot less work, and should help you convert a little better.