Dd #1 wanted to learn to read around age 4, so I got 100 Easy Lessons out of the library (this was before Ordinary Parent's Guide existed). By lesson 3 she absolutely loathed it, and refused to have anything whatsoever to do with learning to read for months and months afterwards. Really, I couldn't blame her -- the "words" in the book are obviously not like the words in a regular book. Honestly I thought it was rather idiotic, too, although I didn't let on.
She eventually learned to read around age 6. By then I felt like I'd looked at every reading program in the universe, most of which she flatly refused to have anything to do with due to her conviction that learning to read was a horrible task. One day she was just looking at the label on a cassette tape, and suddenly realized that she could read it. After that she just started reading everything in sight.
(Twice with this child I used the most popular program that everyone here raved about, and both times it was a total disaster -- the other was using Miquon Math.)
With dd #2 I used Ordinary Parent's Guide, but neither of us can remember what age she was (I just asked her -- she thinks around age 4 or 5). It was straightforward and easy to use. We never finished it, since she was soon reading fluently.
My personal thought: See what you can get from the library, and be prepared to chuck it if it isn't working. Also, since your child already knows CVC words, etc., I'd think it would be easier to zip through the beginning of Ordinary Parent's until you find the place where she's learning new stuff -- the beginning of 100 Easy Lessons might just confuse her.