I think the train from Paddington to Reading stops at Ealing Broadway, which is Zone 3 west London, which may be more convenient for you..It would also let you skip the tube journey altogether.
An hour commute in/around London seems doable.
I recently started a new job, (as in yesterday), but the commute takes 2 hours. Which, is still doable, but it is a lot..However, starting my career is more important to me right now, which means I'm willing to commute as long as it takes-- as long as I can get a full night's sleep at the end of the day! It also most certainly helps that I have someone to pick up the slack for me.. Today the flat was spotless, and dinner was just about on the table by the time I walked in.
I have yet to get the timing down, but since trains are only every 30 minutes, I worry that if there are any tube delays then I'd get into work too late. I was quite late getting home yesterday because westbound central line was closed...so I had to take the Circle line from Liverpool St. to Paddington, to find out most westbound rail services were delayed, but I did finally make it home....So I guess what I'm saying is don't depend on the tube to run perfectly and get you to the train service into Reading on time. It might be more convenient to live either right next to Paddington (if feasible), or somewhere else along the train journey.
Good luck!