An example of how I would write code to read from a new Node.js stream ...

foo.js

stream.on('readable', function () {
  var data;
  while (true) {
    data = stream.read();
    if (data === null) break;
    // use the data
  }
});

stream.on('end', function () {
  // we are done
});

stream.on('error', function (err) {
  // handle error
});