My standard procedure is login > check staff boards (the indicators on the board index will let me if there's anything new in them) > check the QPS board (ditto) > check replies to my posts > then either go to unread posts or just pick stuff out of the recent posts column at the left, depending on my mood.
When I'm in the middle of a session it's a combination of the recent posts column and the unread posts function. As RIBS noted, the recent posts is handy for fast-moving conversations.
Oh yeah, and of course I check my PM's for pissy messages from Eph so I can send her rude responses.

ETA: Oh and the unread posts and the unread replies functions totally rock IMO. Every forum app should have them (but they don't). I find phpBB forums a nuisance to use largely because they lack these functions. vB can do unread posts if you install a mod (which you have to pay for, on top of paying for the vB license. Meh).
Devious, treacherous, murderous, neanderthal, sub-human of the West.