On occasion I like to read about someone gobbling a pecker but I've never considered those terms in this context. Most well written stories I just breeze through unless the prose sings to me. Then I have a tendency to read and re-read, usually trying to envision hearing James Earl Jones reading it aloud. It doesn't happen often. Jamie, writer of the Scrolls of Icaria has done it on ocassion.
Poorly written stories get a once through usually, unless they are really pointless, and then I abandon them and move on.