Well I think it partly depends on what your after.
There is a time and place for everything.
Personally I read everything I could get my hands on, starting from age 12.
From my Dad it was Louis L'amour westerns, from Mom, English Historical Novels. From Grandmother James Michener, Hemingway, Kipling, etc. Along with popular books of the day from Costain and Forester. To that rather eclectic mix I added the best of Science Fiction and Fantasy. Much of which was rather light fluffy stuff, but a very nice break from the heavier chewing.
To my opinion, this left me quite well rounded. Whats more it left me quite well balanced. And able to read between the lines as to what the author was trying to accomplish. What bias or prejudice effected him. It certainly didn't hurt my vocabulary any. I've had college professors ask me where I got my graduate degree after speaking with me for a few minutes. All were astounded to find I didn't have any college degree.
To me with books as with everything else, moderation in all things is the key.
Too much of anything can be harmful. Try to find a balance between what is good for you and what feels good.