// The program waits for the [Enter] key. Why?
The Read method blocks its return when entering characters; it ends when you press the Enter key. Pressing Enter adds a platform-specific line-termination sequence to your input (for example, Windows adds a carriage-return sequence).
// The program does not wait for the key Press. Why?
Subsequent calls to the Read method retrieve your input one character at a time [without blocking]. After receiving the final Read character, it blocks its return again and the cycle repeats.
http://msdn.microsoft.com/en-us/library/system.console.read.aspx
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