Assuming your reader can do basic auth, follow redirects, and store cookies… they should work. Besides some of the simple aesthetic changes done recently (and you might notice new free accounts have text ads), I spent a big chunk of today trying to get RSS feeds and iCal for private projects working. The problem was that Trac would not properly tell feed readers to send authentication credentials, so trying to add the URL would fail because of permissions.
Turns out a long while back a patch was made to help solve the issue by allowing any URL to be prepended with /login (for example /timeline would become /login/timeline) and this would prompt you to enter authentication credentials, log you in and redirect you to the appropriate URL.
This works, and should work for you with most readers. Unfortunately Google Reader and Calendar don’t seem to work with anything that requires authentication, but I tried with Netvibes and iCal.app and they work just fine. Let me know how it works with other readers.