I think every newspaper on the web should at least offer the reader a choice of a reverse-chronological view of the news. I think they would find most readers would use this view, most editors would too.
I was inspired to write this today because Scott Karp at Publishing 2.0 has come to basically the same conclusion. I think we may finally be coming to the tipping point for news publishing on the web. I hope so.
Karp's post said home pages ought to have data ranked by most recent OR most important (as voted perhaps by readers Digg style).
The only thing this misses is the idea that every so often during the day you might want to pull something up out of the news pile in a "hey, did you see this" way. Readers often have missed a gem.