Google Reader is Broken

I'm not sure if there's some functionality change that I missed or if it really is broken, but something is really wrong with Google Reader. And it's been broken for weeks.

Here's the problem: I go to Reader, and click on All Items. It tells me there are 95 items. I scroll through them, or click "n" to move to the next item for each item, and while I am seeing some unread items, I'm also seeing a lot of items I have previously read.

To read all my 95 read items, I have to look at maybe 300-400 items.

If this problem was affecting a lot of people I'd expect to see a big thread on the Something is Broken help forum, but there's nothing there.

Is anyone else seeing this behaviour? It's making me consider looking for another way to read newsfeeds.