Hi! I am a reading specialist so I will try and answer your questions.
1) The only was for you to make sure that your child is able to read phonetically is to have her read out loud OR to make a list of particularly difficult words (for her level) and let her read them to you. I would not worry about fluency and punctuation as much. Teach her the rules when it is convenient to do so but remember no matter how bright she is there are some things (with reading especially) that just come with fluency and time.
2)Keep doing this. You are teaching her concepts and reading skills (top down learning is often best for bright children).
Also, remember to make sure that she learns phonics. Just because you are an early reader (and even a good reader)does not mean that you do not need to learn sound structure. Most people eventually get to a place where they need these skills even if it is in college, if you do not have phonics skills you have no way to dissect an unfamiliar word.
Hope this helps some!
