Well,the 5yo decided that five to eight this evening was the time to start reading. She started trying on a jigsaw, so I got a Peter and Jane book and she rattled through the first 20 pages -- up to page 42, with every other page an illustration -- before she started making more errors than not.
I think she's going to take off as a reader soon. Peter and Jane are really useful for building confidence. She might be ready for Oxford Reading Tree too.