I'm afraid there's no way to do this (yet). As you know, it's possible to have the feeds delivered to your Kindle in a variety of ways (Calibre, Kindlefeeder, etc.) but that's a one-way solution. You could always manually mark go through your items in Google Reader and mark them read (ie. select "items older than a week"). Obviously not exactly convenient. Or you could use the browser, which you already told us was not an option.
In theory, someone could write an app to grab your feeds from Google Reader, store your metadata (read, unread, etc.) locally on the Kindle and sync it back the next time you're online. The problem is that you'd actually need someone to invest time into what would be a huge project. And the reality is that there aren't that many jailbroken Kindles out there. The reason so many iPhones are jailbroken is that there's money to be made and (at least here in the US) people can't or don't want to use AT&T, which has horrible coverage in some places. And people can and actually do buy iPhone apps.
Most people who own a Kindle don't even know that it's possible to jailbreak them and of those who actually go and do it, I'd bet most do it because they're sick of seeing Emily Dickinson.
So, there's zero money to be made by writing apps for the Kindle, access to the KDK is restricted and on top of that, RSS/Atom is kind of a niche. Heck, the folks behind Bloglines even seem to think it's dead or dying. I personally disagree and think it's immensely useful but chances are 95% of Kindle owners have never even heard of RSS.
Sorry.