If you are looking for a web-based Bible reading service, consider YouVersion.  YouVersion is a site similar to BibleGateway hosted by LifeChurch.tv. The special thing about the site is that is acts as one stop shop for Bible study.  If you are an avid notetaker when you read the Bible, this may be the perfect site for you.

LifeChurch.tv just installed some major updates.  As a occasional user, I can attest that they considerably improve the user experience.  The site is quicker, the organization is better, and the parallel readers feature is pretty useful. 

YouVersion is an interesting tool which could really improve communal reading projects.  Imagine an entire small group or Sunday School class reading through the Gospel of John and entering in their questions, thoughts.  I think such a thing could really improve communication and education.