I took what was supposed to be a brief break from my strict regimen of short stories to read this. However, this sucker (along with the weird hours I work) bogged me down for something like a month, maybe it was more.
Faulkner was a genius. No passable argument I can imagine could persuade me otherwise. However, this book (which is consistently ranked among his best) did not really do it for me. It was too long for one thing, and a lot of the metaphysical passages were just kind of banal and self-indulgent.
Don't get me wrong. There are some really great, really astonishing parts to this book. But overall, it's just weighty and slow. I felt buried by it. The Sound and the Fury is a far superior work (and I hear its greatness is multiplied a hundredfold when followed by Absalom! Absalom!), and As I Lay Dying is one of the best novels I've ever read.
In these latter two, the metaphysics are even more present than they are in the book in question. The difference is that the musings in As I Lay Dying and The Sound and the Fury ring true and knock you out, instead of just piling it on.
I think that some of this may be due simply to structure and point of view. The Sound and the Fury is broken up into four parts, all in first person, and As I Lay Dying is made up of several chapters, once again all in first person and from the point of view of characters, but this time shifting around between all the major characters and some of the minor ones. Light in August is in a weird cousin of third-person omniscient: the narrative voice simply cannot make up its mind whether or not it is inside the heads of the characters. It tells you exactly what they ARE thinking sometimes, other times what they MAY be thinking, and still other times what they are APPARENTLY thinking. I think that something like this could conceivably work if there were a purpose to it, but the narrator's level of character access changes so much and so suddenly that it feels completely indiscriminate, like a movie made up entirely of jump cuts, aerial shots, and close-ups: interesting for a while, then completely insufferable.
This odd narrator talks a lot about the difference between knowledge and memory. Some of this is very cool, and may justify some of the narrative jumble. But after a while the knowledge and memory passages get a bit dreary, and the novel's structure goes down with the ship.