Reading these plans wasn't a complete waste of time. Some of them can be used as a bad example.

Perpetual Motion Machine
Zero Point Energy systems
Raise range from 1 Million to 1 Billion
Requesting $50 Million for 25% of the company, when it's only 2 guys a dog and a bplan
Anything that's written like a Nigerian scam letter
Request money to do something that's illegal
Ideas that will never generate a profit, and are better of as charities
"Job creation" vehicles that create jobs for only the entrepreneur and his family

Believe it or not, I actually read every plan that hits my desk. Even the ones that are listed above (Ok, the perpetual motion machine one tricked me, they didn't mention what it was until page 50). Sometimes there's a gem of an idea or concept behind these plans. Even if the particular team isn't the one to pull it off.

One particularly bad idea is sending a redacted business plan. If I can't tell what you do, talk with an expert about your approach or even evaluate if the idea is "intersting" or not. What response am I supposed to give you? Even if it is a good business, it may not be a good investment. And given the demands on my time, especially with current portfolio company demands, how much effort can I really affort to give a bplan other than the first read?

A good executive summary gets an ANSWER. Yes or No, as long as you get a response from the investor, you can move forward. Under this criteria, the above were successful. They got a response in a timely manner.