Yes, it does, but setting up a premium account for yourself is not automatic. You need to know how to read code to do it. Here are the relevant Python commands:
>>> u = User.objects.get(username='StavrosK')
>>> u.profile.active_premium()
That will flip the premium bit on your account. Perhaps I should add that to the self-hosting documentation.
Also, this is driving me crazy, but how do you mark something as unread? The UI is a bit frustrating, I spent a minute looking for the logout link :/ How can I remove feeds completely? How can I reimport things from Google Reader if I've registered already? How can I see a stream of everything, rather than only one feed?
Ah, thanks. I'm assuming the admin interface will also work? Regardless, I have found my old Newsblur account and will keep on using that, I'm a far cry from 64 feeds anyway (I think I only have one or two unique ones).