I've read the whole book of Psalms in a little less than a month, highlighting 24 Psalms. It was a rewarding experience for me. I do memorization work in the Psalms, incorporating them in my prayer time, and often find it rewarding to just think of them, realizing who God is, and how much I have yet to learn of His power, compassion, grace, and truth. For anyone wanting to know God, my recommendation is read the Psalms! Of course, the whole Bible is important, and nothing should be neglected, but I do find reading the Psalms especially rewarding.
The pace at which I covered the book of Psalms is actually a pace suitable for reading the Bible in a year. If you read the Bible six days a week (312 days), you can read the whole Bible in a year at a pace of about 100 verses per day.