Open the PH first, and excitedly skip from section to section like an overcaffeinated 8 year old with ADHD. I'll probably start by looking at the classes I want to play, but before I finish reading the powers I'll probably skip to the feats section, and then to rituals, maybe magic items, and back to the classes. Repeat. At some point, I'll probably force myself to read through the combat and rules section of the PHB.
Meanwhile, I'll probably skip through the MM for the monsters I like thematically, plus whatever else catches my eye. The DMG will probably be last, and I'll probably read the sections that interest me, rather than reading cover to cover.
After reading through for a bit, I'll probably try to convert over some of my favorite characters, which range from 6th to 21st levelo. I'll only do the ones that can be converted, not the ones that require classes not in the PH, or ones which would require heavy house rules or custom-built paragon paths.