My son read words (by sight) and favorite books (by memory and sight) before he was two (probably by 18 months).
He is almost 11 now, but is terrible at sounding out unfamiliar or nonsense words even though he has had extensive phonics training in 1st-2nd grade (the classical stuff with coding).
I would guesstimate that his oral reading is high average, but know that his silent reading for comprehension (using context clues) is through the roof!
He really started reading for fun around the second half of 1st grade when his reading skills finally began to meet his reading interest level. That was the key! Although, he did the work, he had no interest in the grade level easy reader books with subjects such as a dog and a ball!
Now he reads at least 500 pages per week for fun. We have to constantly tell him to stop reading! I know there are worse problems to have.
There are many different ways to evaluate reading. With scores like your son�s, his reading will probably take off soon!