I'm a big fan of reading and I read a good amount (though I'll be honest that DVDs and the Internet compete a lot with my book-time). I generally prefer classic (including but not limited to classical) literature over more throwaway type books. I crave knowledge much of the time, so reading for reading's sake doesn't turn me on as much as learning about something I find interesting. I could more easily read a (well-written) technical manual or even just a dictionary over reading a trashy novel. Don't get me wrong though, I have read plenty of junk, and am not above mindless entertainment (see the list of my favorite movies for proof of my questionable taste in entertainment).
My favorite author is probably Dostoyevsky. One of my favorite reads was Victor Hugo's Les Miserables (I still haven't seen the play --and am obstinately reluctant to do so as well (more on this later perhaps). I like Kafka's writings quite a lot. My particular favorites are Report to an Academy, A Country Doctor, In the Penal Colony and The Metamorphosis. I also remember really loving the first two novels in each of the two Henry Miller trilogies (the 3rd ones were both disappointing).
Although I'm not a collector, I do enjoy really nice books (for me a nicely bound paperback is okay too) and I like having lots of books around. There's something very comforting and soothing about being surrounded by lots of good books. When traveling I tend to like spooking around the bookstores to see what they have. I like visiting local bookstores too, esp. good used bookstores, which very sadly seem to be quickly diminishing in number.
My most "extravagant" book purchase (ever) has been the acquisition of a copy of the Oxford English Dictionary, 2nd Ed. It's a dictionary I've wanted for 20+ years but have never been able to justify purchasing. I couldn't justify it now either (esp. since I'm not doing anything with my studies that requires having such a powerful tool at my disposal), but I found a new copy for a pretty low price compared to what they've been going for on Amazon for the last several years, so I nabbed it.
Until I flesh this section out a little more, check me out on Goodreads, a social networking site focusing on books. It's pretty cool!