I am a constant listener of audio books, and a long-long-time member of audible.com - I have hundreds of books from there, and one of the best things is they are always available and I don't have to use up space to store them at home - just download whenever I want. And I look forward to my new credits each month like it was Christmas each time!
The one thing that can spoil an audio book is bad narration. Two examples come to mind (I won't say the book, just the problem). One is not editing out breathing, swallowing, and one time even BURPING by the narrator! Gross!! That interrupts the story so bad that makes it difficult to continue listening. But by the time I know this is going to happen, I have already bought the book and soldier through - but I keep note of that narrator and don't use them again!
The other thing is wrong accents - another thing that takes you out of the book. A book I listened to recently by my FAVORITE author had a narrator whose accents were so bad - the book was set in Maine, and not one of his accents for the characters, who were all born and raised in Maine, was a Maine accent. But there was a California surfer dude accent (apparently this narrator's version of how teenagers sound - even from small-town Maine), southern oil barons (this is what evil guys sounded like - again, even if born and raised in Maine) - and the WORST was the idea that apparently all children under teenage had stuffed noses - always.
With those two exceptions, I LOVE audio books! I can get twice as much done - I also love digital scrapbooking and knitting, and though I don't love it, my family sure appreciates my cleaning - so I can do any of that while listening to a book, and this way, I end up reading 200-250 books a year - which I LOVE!
But other than the fact that I listen to them, I do consider that reading. I mean, if somebody says, "Have you read the final installment of the Wicked series yet?" I say, "Yes!" - not, "No, but I listened to it." For very long, complicated books, I turn to Spark Notes in hopes that they have a guide for that book, just so I can understand what's going on (I'd never keep all those characters from War & Peace straight without my trusty Spark Notes!!). My brother says it's not really reading, but I'm certainly able to discuss any book he reads with him with intelligence, so ... it's reading to me!