Amazing. It works with children who are not quite ready for phonics, and works very well with my six-year-old. After a year of trying phonics (and still struggling) this has made a huge impact on his reading, and our sanity.
Can't say enough about this, it has made reading so much easier, and given a lot of insight into the limitations of early readers in English as well as other languages. Children's book authors should pay attention to this!