I'm giving Pocket a shot as my one and only "read later" service. Early last year I explained why and how I use both Instapaper and Read It Later, the gist of which is that I use Instapaper for articles and Read It Later for videos. It seems that Pocket--which attempts to auto-categorize articles, videos and images--may be a simple way for me to consolidate the services.
To that end, I just imported all of my Instapaper items into Pocket, installed the Pocket iOS apps and reconfigured all of my other apps to talk to Pocket instead of Instapaper. We'll see how it goes.
Initially I was a bit worried about the service using tags instead of folders (I use folders a fair amount in Instapaper, and during the import these were converted into tags without issue), because it seemed there was no way to view only the items with no tags (i.e., the majority of my items). However, after some farting around I noticed the "view untagged items" filter and my fears were allayed.
I've some niggles already, but won't mention them now because I'm sure they'll be resolved shortly.
Finally, I think the new name is perfect.