I have talked to several college presidents about this.
I beg to differ. "Sight words" do not build a proper foundation for understanding new words. They also hinder development of speed reading or even just proficiently fast reading.
(I know that last bit sounds counter-intuitive because speed readers read entire words or even sentences at once. However, I am one, and a good foundation regarding how words are formed from letters is critical to developing speed reading skills.)
JMHO, of course.