Recently the report Reading the reader: A survey of Australian reading habits was released. The whole report is here, or you can read an overview here with some graphs. It is a good idea to look at the methodology because it shows that there were some library connections in the research. I think the research shows some recognition of the work that libraries do with readers' advisory work in many forms.
This graph (and you are going to have to click the link as it won't let me embed it), actually proves the value of appeal characteristics for readers advisory work (think of the Nancy Pearl element of setting, story, language and character), because 90% of people said that 'topic, subject, setting or style' were important elements. 45% of people said price was key too, which makes me think there should have been more research with people who use libraries as that removes the price element.
Go and have a look at the report and think about the implications for readers' advisory work in your library and how you suggest reading to your clients.