The other day he amazed me. We got the magazine out to read before bed and he told me he wanted to read some of the stories/poems. We opened to the first page, a poem titled "Crescent Moon", and Will proceeded to "read" the whole thing, moving his finger along the words at approximately the right pace. The next page was a comic strip that he read as well. He can also read "Old Mother Hubbard" and a couple other things.
I totally know that he's not really reading the words, but I can't help but think he's not far from it!