Re: Your baby can Read.
I saw a TV show awhile back that followed up on some kids who had done a lot of the flashcard type of thing as babies. Basically, they could show off all kinds of trick stuff as babies, and then as the years went on other kids caught up with them and they just settled into average. I can't see how this would be any different.
Yes, you can probably train your baby to recognize words. I don't see the point. I think at best you're just amusing yourself. At worst, you are pushing way too hard for performance, performance, performance. I would much rather let a baby, and a little kid, PLAY! They have so much more to learn as babies that is so much more important than reading! I want my kids to be exploring, testing, climbing, asking questions, etc.
Also, I think a child is much more likely to have a life-long love of learning, if you let them come to it. Let them play and enjoy babyhood. Then as they get older, PLAY with letters, sounds, all the pre-reading skills. As they start reading for real, encourage them with books that interest them. But pushing them to read more, earlier, better is not doing them any favors -- I think it is likely to make them burn out hard by the time they hit middle school.
Just my opinion!