It depends on what I'm reading and why I'm reading it.
Most of the time I read novels for fun. I look up words as I go but rarely mark the text. Sometimes I read works in progress, which I mark up extensively.

With my newest ereader I can attach web links and (separate) typewritten notes to passages in the text, which is nifty.
Mostly I get lost in book-world and just turn pages!
Interesting question -- this might be one of those areas where ereaders are changing people's reading habits. Or not: I marked up paper books for study, but never when reading for pleasure. Hmmm. Not so much change after all!!