It is an inconvenience for many... but it seems other readers have stepped up to make the transition easy for you :)
First and foremost, for those of you that follow via Google Friend Connect, you can still follow blogs via Blogger.com so there's no need to export all of the blogs you follow to other readers.
If Blogger isn't for you...
Other readers such as Feedly and Bloglovin' have stepped up and are offering one-click imports for all of the blogs you follow through Google Reader.
I personally use Bloglovin' to follow all of my blogs. It also automatically publishes my posts to my facebook page (which I find very useful). But I've heard very good things about Feedly as well.
Click on the logo's below to go to my personal pages and find your favourite way to follow: