Update on my move to GAFYD:
yes, Google Reader lets you export your subscriptions to an OPML file and will even re-import it into your GAFYD account.
But: not only do you lose your starred articles, all your subscriptions are also marked as read, so be sure not to migrate before you have caught up with all the articles.
On a related note: what will happen to all those deserted accounts on Google servers? I can not even start to imagine the kind of storage space that will be lying around filled with stuff nobody will ever touch again, not even thinking about SPAM coming in to those accounts.