Carl V. over at Stainless Steel Droppings is hosting The Once Upon a Time Challenge. It’s basically personal challenge to read books within a few subgenres of SFF: fantasy, fairy tales, mythology, and folklore. There are many levels of participation encouraged, so check it out. Links to reviews people have written for the challenge are being posted here.
I’m not a strong participant as I’ve got a pretty big list of books that I’ll be reading in the near future, however I’ll be trying to participate as I can. Go check out his blog – there are lots of posts relating to the challenge there and elsewhere that include reading lists and recommendation among other stuff.