Well, let's look at pros and cons.
NOT READING
*Less effort and time involved
*"prepared" essays
READING
*More time and effort involved
*Understanding of module and with practice, ability to pop out sophisticated responses that show independant thought
Sure, the easy way *might* work but there are far too many risks. The entire point of EE1 is to make smart english cookies think, because they can. If you're planning on doing a regular advanced english "state point...give example...give technique...ok I'm done" thing, then what's the point of doing EE1? Most EE1 people work at it because a) they're taking the opportunity offered to them to develop their english analytical skills and b) they want to do well in EE1. And you're really not going to do all that well if you don't do the work.
Tennille is right. The Board of Studies really isn't stupid and they can tell when an essay is generic (eg the person hasn't read the text or hasn't bothered analysing it on their own). Heck, even I can tell when an essay is generic!
There ARE cases where people have got into the top band without putting in quite as much effort as other people have, but these people are far and few between and normally have a natural ability to gain a lot more insights from glossing over a text than "normal" people do. Even so, these are the same people who have the capacity to not only aim for a top band, but a top mark of around 50, if they wanted it - but they couldn't be bothered.
I always advise people to do their best. And if you're only doing EE1 for the scaling, isn't that what you should be working for anyway?