Not the expert
I am only in the second year of using Harcourt, and only in the second year of teaching overall, so I can't claim to be an expert, but here's what I do. We have a 2 hour block, 1/2 an hour of that for writing, and 90 minutes for reading instruction. I'm suppose to spend an hour of that doing guided reading. I'm not saying my method is best, but here's what I've worked out.
1. The basal story. I do this whole group (shared reading) This is supposed to be 20 minutes a day, but sometimes this goes over.
Monday. We discuss the vocabulary and perhaps build prior knowledge or some other activity related to the story we will read for the week.
Vocab and Spelling worksheet.
Tuesday. I read the story aloud and ask comprehension questions. The students follow along in the their own books. Vocab and spelling worksheet. (There are ESL, below level, standard and above level versions of the vocabulary worksheet.) I generally give a below level on Monday and a level on Tuesday. This gives them two practices.
Wednesday: I play the tape, students follow along in their books, then answer written "fill in the blank" type questions from the story. I make these up myself, after taking a peek at the comprehension test.
Thursday, I do a grammer lesson from that week. Give the worksheet
Friday: Comprehension test. Often, I give this open book. Most kids don't bother to crack the book, but I give them every chance.
2. Guided Reading: I use the leveled readers that come with the series. At most, you can stretch this out to two days. The other three days can be grammer lessons from the series or literature circles. While I'm doing guided reading, they're in centers, or "independent reading." We rotate this. I sent up the centers, or they can go to the library, check out books, read, or take A/R tests.
I don't use the writing component. I make up my own writing prompts. I find theirs pretty boring.
There's an editing component that makes good "morning work" or "bell work." There's also a question of the day that can be used for morning journalling.
I'd like to start throwing the phonics and word study and such into a few minutes of my guided reading groups each day. I hope I'm more together next year myself.
P.S. The smartest thing I ever did was to reduce the size of the comprehension test so that two pages fit on one page, copy them back to back, using only one piece of paper. It's a cinch to grade. I tried having them take the tests on the computer, but it a) takes too long, and b) they don't have anything to take home to mom!