I worked in primary schools as TA and Voluntary support for over twenty years.
I didn't know Leap Reader, but have just looked it up.
Personally I don't care for any of these gimmicky sorts of things, and consider they are mostly companies with over-inflated egos, trying to get money out of gullible parents.
TIME is what young children need, 'time' with supportive parents who are prepared to make an effort to read to them, with them, play imaginative games with them; not stick them in front of gadgets that probably sound like Daleks.
Spend the money on good books at inexpensive prices from charity shops, drawing and writing materials, jig saw puzzles, Lego etc.
At under £10 this could be the best educational present you could get him:
An inexpensive and easy to use book, that can encourage children with reading, spelling and writing, and really help them to understand Phonics, is reviewed in the MN Book Reviews section. Just search ‘Phonics’ and my name.