I like the idea, but it would definitely need a 'continue' button when the loading is done. I don't want to find myself reading an interesting text and then be interrupted because the loading is finished.
Agreed. Such a button is good to have anyway. The long load times encourage leaving your screen for a while to take a walk, grab something to eat or drink, answer other calls of nature, perhaps grab a book or read the newspaper... It would be a pity to see a (supposedly) timed quest having proceeded significantly when you return.