Fluency and reading comprehension

A common objection to the communicative approach to teaching biblical languages is: "All we are aiming at is being able to read, not speak, the language." However, Frank Smith in his book "Reading without Nonsense" suggests that in order to truly read fluently, one has to depend less on deciphering the printed matter, and more on a background of already acquired knowledge. Though he does not highlight fluency as part of that body of "already acquired knowledge," it is presupposed throughout (indeed, it is unlikely that a non-fluent English speaker would be reading his work in the first place). It would seem, therefore, that without fluency, it is impossible to read effectively for meaning.