I just finished reading a hard-core literary novel in which the "plot" (such as it was) didn't start until I was about 170 pages in, and wasn't resolved after 330 pages. The bulk of the novel consisted of classical allusions (the hero is an insufferably pretentious classics prof) and digressions into detailed analyses of musical pieces, figures of speech and the like.
Why did I read it? Because the author kept pestering me to review it. I don't know how to tell him I think he should have kept this one in the trunk (as, I believe, his former publisher wanted him to do). I've read quite a few of his other (better) novels and reviewed them, but I'm done now. In fact, I may just switch to reading fast-paced YA and genre fiction full-time.
Basically I'm just using this space to vent, since, as far as I can tell, no one has read this novel but me (and perhaps his friends). It didn't sell well, so it's not exactly indicative of trends in literary fiction. Which, in my view, is for the best.
Though I also felt this way after reading all 700+ pages of Rick Moody's latest book. There is something to be said for (a) plot, (b) plausible, non-postmodern characterization and (c) economical prose.