Great topic BlueTexas.
As far as reading goes, I'd say that would be personal preference.
First person, for me, is harder to read, in as such as it is harder for me to "get into" the setting and story, and "get involved"--I tend to feel that I'm on the outside looking in unless the author is extremely talented. With first person, you're generally limited to one POV and I like to know about what and how other characters think and feel (3rd person omniscient). But again, that's personal preference.
As for writing--deciding which to use would factor a lot on the genre and the house/destination you're targeting and whether it is Fiction or Non-Fiction. And, “who” you are talking to.
Maybe consider if the “author” is telling the story or if the “character” is telling the story. For instance, authors Roberts and Grisham tell the story, but with Grafton, “Kinsey Millhone” tells the story. Grafton’s first books (IMHO) weren’t as well written as are her later books. Here, I can see where experience has, over the years, made her a better writer. –Sometimes you see just the opposite—where a writer starts out good, but tends to lose something along the way and aren’t quite as good in their later work.
Although sometimes writing in first person then converting to third can be beneficial to the piece, I would definitely check any submission guidelines before I invested a lot of time into anything.
First person seems to do well with PI Mysteries. The Romance genre leans more toward third. Science Fiction mostly toward third.
As with any piece, know the market—research where you think you might want to submit, pick several and write toward that goal. You hear a lot about 'write what you know,' but I think 'write what you love to read' should be included in the planning as well.
There ya have my .02 cents worth. <G> -Jo