I know this is an old post, but for anyone else looking to read faster by reading more than one-word-at-time, there is a free web application at
http://www.readspeeder.com which does exactly that. It helps you to read whole phrases at a time, by converting text into its natural phrases, and then displaying each phrase. It works with any text and even has a bookmarklet for reading on any other web pages, and has an iPhone app.