This method for reading groups to read the Wake in a smooth, straightforward, even efficient (!) way was first tried (as far as we know) at the Allforabit Funferall meeting in September 2009. It seems to work pretty well. We'll keep trying it and let you know whether we still like it.
The crux of this technique is separating the "overview" level from the "suck it dry" level. We've found that otherwise, some people (who may have read the passage already and have a general idea of what it means) are plunging into the passage's depths of meaning, while other readers are still trying to get a general handle on the passage, leading to a kind of traffic jam in the discussion (to mix several metaphors, but if you read the Wake, you should be used to that). When the levels are clearly separated, everyone can work together on the same aspects of the text at the same time.