C.W.
I have found that when my kids are waking up that early it is because they didn't get enough sleep. People often don't understand that if your child is sleep deprived that they will tend to have sleep disturbances and wake up even earlier. they instead will feed the deprivation and figure their kid doesn't need the sleep and put him to bed later, hence making the problem worse. I would try putting him to bed earlier, and make sure his afternoon nap is not too late in the day.
I would not allow him to go downstairs and watch TV by himself at this age. Give him some picture books and explain that if he wakes up too early he can read his books quietly. I also got my kids a clock that lights up at whatever acceptable hour that you choose.
Having said all of that, I will say that some kids just have an internal alarm clock that is set earlier than most. My daughter used to be up at 5 every day, no matter what time we put her to bed. With a lot of training, we have managed to get her to go to around 6 (she is 9 now). I still think she could do better with some more sleep, but I am also a late riser.