Found this gem in an article on Parenting.com
The playing field between early readers and other children usually evens out by the second or the third grade. That doesn’t mean that reading shouldn’t be taught with some rigor in the first grade. But drilling 3- and 4-year-olds on phonics and expecting 5-year-olds to be fully literate isn’t the best approach. “It may squelch their natural enthusiasm for books,” says Mihaly Csikszentmihalyi, a professor of psychology at Claremont Graduate University, in California. “When kids are young, it’s more important that they imagine themselves as the pirates, runaways, and explorers in stories than they read every word. You want them to develop a love for reading before they try to master the mechanics.”
A child who’s really reading does more than just sound out a word like “cat.” He must also be able to know whether a “cat” is a person, place, or thing; to comprehend the grammar in each sentence (Does the cat wear the hat or does the hat wear the cat?); to dramatize and contextualize the story in his head (cats don’t normally talk and wear hats, do they?); and to empathize with the story’s characters and understand the ramifications of their actions (that mom is sure going to be mad when she finds the mess made by that silly cat).
My favorite quote:
As Mark Twain said, “The man who does not read good books has no advantage over the man who can’t read them.”
The whole article is worth a few moments of your time.