I really like Thoth as a newsreader, but it is not a Universal Binary (and future development is in doubt), so I thought I'd try this one.
I downloaded the group list and subscribed to one group. I double-clicked on the subscribed group (assuming this would list the article headers). I saw one article header displayed and it started decoding. So I switched to another application and I could not get back to OSXnews - just got the spinning beach ball. Don't know if it was trying to decode all the messages (binaries) or what (I set it to retrieve 500 msg headers). Anyway, after a little while I had to do a force quit.
OSXnews
Webcore-based Usenet newsreader with threading
Version: 2.08