I picked the third option because it's the closest to how I operate. But even then it ebbs and flows based on my amount of time. I have a select group of folks that I try to keep up with regularly because I usually like their work. But it's a crap shoot sometimes. These last couple weeks in particular have been garbage for me with regard to reading people's stuff, what with working 2 jobs and helping my SO move into my place.

I always, always, always read an opponent's work though.

I think in an ideal world everybody would read everybody else's work, but most of us are at an age now where when it comes down to catching up on RP's versus catching up on family obligations/housework/work, etc....the lame stuff ends up winning by necessity.

Edit: Also, I think RP of The Month helps, with getting people to read other people's stuff provided they actually are reading it.