The Collaborative International Dictionary of English v.0.48:

Well-read \Well"-read`\, a.
   Of extensive reading; deeply versed; -- often followed by in.
   [1913 Webster]

WordNet (r) 3.0 (2006):

well-read
    adj 1: well informed or deeply versed through reading; "respect
           for a well-read man"; "well-read in medieval history"
    2: highly educated; having extensive information or
       understanding; "knowing instructors"; "a knowledgeable
       critic"; "a knowledgeable audience" [syn: knowing,
       knowledgeable, learned, lettered, well-educated,
       well-read]