I'm not sure whether it's due to lack of familiarity or because it's simply more difficult to write well in present tense, but I don't generally like reading it. Especially writers of books of, um, an "adult" nature, seem to favour the technique - probably because of an idea of perceived immediacy. It's not something I especially like when reading.
In general, I think has a lot to do with being used to it, and that one has to be a better than average writer to pull it off well. It will put off some people. The queation is whether it's worth it.
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