As someone that does research full time in an academic setting, I am happy to hear someone talking about (and refuting) what I can imagine some companies calling a "research" position. I agree with him on his points, and I hope this drives home a point to some people who may be in a similar situation.
And, for the record, Richard Feynman did not do very much paper reading. I know, I know, a very special case, but I had to say it...
Paper reading is one of the ways of learning what else is out there. You can substitute that with talking to other people. Which Feynman did a lot, judging from the stories in his books.
Actually, now that I'm thinking about it, it seems to actually be MUCH more efficient (if you have smart people to talk to): trying to find the good papers in the middle of the sea of publications/noise is a very time consuming task.
And, for the record, Richard Feynman did not do very much paper reading. I know, I know, a very special case, but I had to say it...