I feel like I get a lot more out of messing with / hacking on code than I do from reading it. I'm sure people vary, but I've got loads more out of open source contributions to sometimes small projects, and not very much out of trying to do something like read the code for the Glasgow Haskel Compiler or something.
So for code to read, I think having an in is crucial, at least for me. So I'd say, find a cool, maybe small open source project, look at the issue tracker if it has one, and try to implement something. You'll only really know if it's good code (or why) after you start trying to change it.