I remember hearing my Unit 1 English teacher saying that in 3/4 students would read their texts heaps of times over, some students would read them like 10 times
I read mine once and felt I had substantial knowledge on it (given, I had read over key passages and sections numerous times, but only 1 complete read through).
Gathered I did screw up the exam so I'm probably not a good example to follow. Read your texts before school starts and jot down some notes, plot summaries and maybe some key quotes you find. It helps to start quote bank early in the year. Also try reading over the VCAA sample essays to get an idea of the main ideas in your text.
My suggestion is to get a head start on the context study. This is usually the part most people struggle with. It is also conveniently the AOS where you don't actually need a teacher or classroom to teach you anything. A lot of this will be your own research done outside school hours, so find out what context you are studying, flip through some study guides to get a brief idea of the context ideas then start hitting the books/internet/wikipedia and collating notes.
I would also recommend deciding early on what context 'style' (expository, persuasive, creative) you will focus on and then practising that style from as early as possible. This is especially true for creative where you need as much practice as possible.
I'll also probably be putting up a Language Analysis guide in this section over the holidays (The section I felt I had the best idea of what examiners want) so I don't feel like I've wasted all my effort on this subject =P
Good luck with English and remember to keep writing essays throughout the year. Don't be afraid about repeating ideas throughout essays. You need to refine specialised arguments so that they become burned into the back of your mind and you can pull them out without even breaking a sweat in a SAC or exam. Remember that examiners only see your essay once so even if you wrote the same thing 100 times throughout the year, it's still 'fresh' to the examiner.
Good luck next year.