I finished the regular photoreading course - the audio books, about a week back. I can't say the results were dramatic, but at the same time they weren't disappointing either.
I believe Paul Scheele contradicts himself when he says this is not a skill to be practiced - and practice could be counter-productive. I think it is something you DO need to practice and get better with, over time. Towards the end he actually does say - if you've not photoread 10 books yet, then take up books that are 200 pages or less, non fiction and easy to grasp to provide easy victories. The logic would imply that your photoreading skills improve after the 10 books.
Anyways I was too eager to try it on my study material (I'm appearing for certain IT networking exams) and the results I received were quite different.
For instance, I do not feel a information overload coming from my sub coincious mind. But I do feel that I'm able to activate an entire 400 page technical book in an hour as opposed to half a day. However my comprehension level may be about 70-80%, and that is not enough for an exam.
My position on photoreading for now is this: it is a great methodology.
Paul Scheele has refined a very crude method of inputting information into a systematic step-based technique that demands concentration and produces results. For that alone, it is worth it. I am going to wait and see whether the neural nets in my head get used to passing information from the subconcious mind to the concious mind in a more apparent way.