Although it wasn’t immediately obvious to me, read more links can be enabled by over-riding the global $more variable and setting it to false, before looping through the result set, for example:

global $more; $more = FALSE;
query_posts('post_type=page');
if ( have_posts() ) : while ( have_posts() ) : the_post();
	the_content('Read More...');
endwhile; endif;

I couldn’t actually discover why this is not the default behaviour when querying pages. There may be a good reason behind it, but in my experience I found it mildly irritating.