I have a young cousin, he's recently had his sixth birthday. Reading is completely novel for him. He loves it. Even though he doesn't fully understand the words, he will point to letters and sound them, then he will read the full word aloud. It is an almost majestic thing to witness; he is so pleased with himself when he gets the words right. He was reading everything he could find that had letters in my house.

Let's put him down for a future bookworm? Anecdote as it may be, it is evidence that phonics is the natural way to go. I don't think he'd have the same joy if I pointed to the words and said 'that shape means blue' or whatever.

Discovering the underlying logic then making it your own is what makes learning anything a pleasure. Indeed, how many of us on this forum would enjoy learning to program were it taught the same way?