Academically, how bad is DS's sound confusion?

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7yo DS in yr2. He had speech therapy. His speech seems fine now but you can tell from below he's still very confused about lots of sounds in reading & writing. He is very resistant to any kind of formal work on hearing the sounds better. Lots wrong with his writing, I'm just wondering about how bad the sounds are in this for going forward.

On plus side, He did all this writing without fuss & almost completely independently (asked me 3 or 4 spellings). Thx.

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Once apon a time there was a elephant who alwased dremed and fort all day about being a berd he alwased cavered himseth in big wings and cathered hiseth in feathers. Grat enormous fethers and he would jump of a ginormis clith and he would flap his wings but it just wouldn't fly but. he capt on trieing and he would just fol. Wenn he jumt of the clith i don't no why he diden't die but he just did and he dident live happerly ever artheter or he mite live happerly live arthter.

the end

Its not so bad, the main issue is confusion between f and th, which he seems to be using interchangeably .
I'd practice the sounds with him, and only move on to the spellings when he's able to spot the difference.
There may come a time when he will just need to learn the spellings of each word, but he needs to able to distinguish the sounds first.

Yes - as DB says, there is the 'f' and 'th' confusion. But this is quite common, and amongst adults even, and in certain accents, the two can be interchanged.

I give details of a book that may help, and he will probably enjoy using:

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’.

okay. Not as bad as I thought, then?
He gets super annoyed if I try to point out the f-v-th confusion.

He's got a dictionary he already doesn't like to look at.