Me? I used to be a blogger, reading RSS feeds for 2-4 hours a day (depending how quickly I found interesting things to write about, and whether it was a catch-up day). I honestly cannot imagine replicating that level of information wired-ness with a simple Twitter list. However! I'm now far more casual in my news consumption and Twitter lists are the perfect way for me to get a handful of headlines from a handful of folks I trust.
I haven't even set up a Twitter list just yet - only a custom group in TweetDeck. I manually visit four or five sites when I get the time, and get my news that way. I even set up these sites in Google Reader, but it's not all that efficient when you've only got a handful - I actually prefer to visit the sites themselves, as I can see things like Lifehacker's recommended stories more easily there. HN is the main place I go to for news outwith these sources.