sorry I may be standing myself in front of a firing squad here, but I am teaching my daughter who is 3.5 to read.
Why? Because THAT is what she wants to do. I know children who like all sorts of things and know all sorts of facts about them - I once knew a 3 yr old boy who had a book about planes, he couldn't read, but he knew the name, top speed, last flight date, etc etc of every plane in that book because he just wanted to know and so his parents told him, I know boys who are fantastic at kicking footballs aged 2 because that is what they want to do and their parents supported them in the direction they want to go in.
My daughter asks me every day to teach her to read the books on the bookshelf.
She loves doing loads of other things too, and I know that in the long run it will matter very little whether she learns to read aged 3.5 or 7.2 as long as she does in the end, but she is interested now. I work on the basis that if a child is interested in something which is a positive thing then their interest should be encouraged or at least supported.
If my daughter suddenly decides that she doesn't want to play phonics games then we won't do them, she is the instigator. There is no stress involved, it doesn't matter how fast she progresses because she doesn't need to do it yet, she just wants to.
I don't see any difference between learning to read and learning anything else. I don't understand why others on here are so stressed about the issue. I could understand it on the circumcision thread, but not on here, please feel free to enlighten me, but please don't shoot at me because I'm a bit slow at ducking ATM!!