Based on my experience in Lancaster volunteering (Lancaster is a lot like Reading), I'd say that turnout will be lower, but not nearly as low as many have suggested. Puerto Ricans in Reading will still come out for Obama. Assuming a 5-6% Obama win in PA, he takes Berks. However, Eastern PA in general will probably trend Republican.
Obama is the only Democrat to win Berks in recent memory. He could win, but I expect Romney to take it narrowly. Though on the other hand I expect Obama to win PA by about 4.7%.