if you pr'ed the book and took notes from your pr/rrding, would your prof accept that you have indeed read the book? i know that underlining slows you waaay down, and a lot of things you underline seem important while reading but may not in fact be necessary knowledge when you've finished reading.

plus you deface many perfectly good books. profs like to see that; it 'proves' to them you've interacted with the book in question, yet you don't actually remember any better than if you had just read through in the long run...

how about this...instead of underlining, put appropriate sized brace brackets on the outside margins of the book from the topmost lines you want to note, to the bottommost ones; in a sense, you draw a box around the important sentences, without actually underlining. it serves the same purpose and is MUCH neater, plus you can still pr/rr the book when you're done, and have cues on exactly where to dip :P