I don't see any gaps in my DD's reading ability, either (she's also 8), and she was definitely quite whole-word in her approach. She is a phenomenal speller, too. Whatever her approach is, it hasn't led to any problems whatsoever. I have zero concerns about gaps. In any case, she suffered through plenty of phonics at school.

If you see that your child truly cannot sound out words, that's a concern. I think that's relatively rare, though.