I have a good news for all of you guys,

If you are in desparate need of reading excel,

then you have two options

1. Use Excel Connector (avialable in SFA tools)

2. Use ActiveX in VF page.

I have used the second option, and below is my code...

<apex:page showHeader="false">

 <apex:messages />

 
 <script type="text/vbscript">

  Sub readBtn_OnClick

    Dim fileUrl
    Dim rowIndex
    Dim colIndex
    Dim oldContent
    Dim newContent
    Dim cellContent

    fileUrl = document.form.userFile.value
    Set objExcel = CreateObject("Excel.Application")
    Set objWorkbook = objExcel.Workbooks.Open(fileUrl)

    rowIndex = 1
    colIndex = 1
    Do Until objExcel.Cells(rowIndex ,colIndex).Value = ""
        oldContent = document.form.excelContent.value
        newContent = oldContent & objExcel.Cells(rowIndex , colIndex).Value & vbCr & vbLf
        document.form.excelContent.value = newContent 
        rowIndex = rowIndex + 1
    Loop
    objExcel.Workbooks(1).Close
    objExcel.Quit
  End Sub
</script>

<form name="form">
    <input type="file" name="userFile"/>
    <input type="button" value="Read" name="readBtn"/>                         
    <p><textarea rows="10" cols="44" name="excelContent"></textarea></p>
</form>

</apex:page>

 For more reference

http://www.activexperts.com/activmonitor/windowsmanagement/scripts/msoffice/excel/

Remember that the ActiveX will be unsigned, so user

will prompted wether to execute this  ActiveX or not.

But hey you can get the job done in client side itself

cause there is no way you can do it in server side.

Also only IE will support ActiveX, no other browser.