I am also a huge fan of text to speech on the iPhone. Though there are a couple of problems with the speak selection method: if you are reading a large article with text selection then you cannot do anything else with your phone (like locking the screen or backgrounding the active app). If you accidentally do, then you have to select again the text (remembering where the reader left off). And the selection step is tedious if the article is long. You also cannot pause or skip the article using the earphone remote.
Because of these problems (and some other issues for reading French texts) I wrote a text reading app (called “Telme John”). It reads full articles with few user interactions, using the Safari add-on or directly in the app. It can also handle a complete newspaper or blog like a podcast, where user can pause or skip to the next article using the earphone remote. For French (and other language but it is mostly necessary for English words and German names in French) users can submit better pronunciation of certain words, made available to others.
Check it out and give me feedback if you like.