Yeah, I think for me I figure their minds are so fertile at this age - both for language development and for information in general - why teach them something incorrect that they will have to unlearn later?
I don't treat DD 2.5 like an adult, though. We are very, very silly and I don't expect her to always understand or control her tears.
I myself was treated like I was way older than I really was, thanks to my language skills and giant size, and I think I missed out on being a carefree kid. I don't want that to happen to DD.