In addition to the rebranding, the app has been updated with an all new UI designed to help organize the content you've saved in a better way. There are also new filters which automatically organize content for you. The layout of saved pages has been reorganized to make it easier to get the tools you need like sharing, changing text sizes, etc. The app has also gotten an all-around speed boost for faster syncing and downloading of content. And, maybe best of all, the app is now free. So, what used to be Read It Later Pro is now simply Pocket, and the free version has been dropped all together.
One annoying thing is that even with all of these updates, Pocket still has the limitation where you can't store login credentials for 3rd party sites on Android devices on Honeycomb or Ice Cream Sandwich, so you still won't be able to read your ESPN Insider content until that has been sorted out.
Pocket is definitely a solid app, and unlike Instapaper, it has official apps on both iOS and Android. If you want to grab Pocket, it's available for free in the iTunes App Store, Google Play Store, and Amazon Appstore.