Interesting discussion.
For starters, I think the idea that "everyone thinks their kid is gifted" is nonsense. For sure there are is a group of parents out their that think their kid is a special snowflake. For the most part, though, [collective] we either have a formal assessment, standardized test scores, or something else specific (language or music proficiency) at we are using as the basis for our label. Unfortunately or fortunately, gifted is the universally used label. Whether you like that word or not, it gets the message across without having to type out a long explanation with disclaimer.
The long explanation with disclaimer is especially relevant with younger kids. The research clearly shows that a "gifted" early elementary kid won't necessarily be gifted later on. Nonetheless, that kid who knows all the K/1st material is not going to be learning much in a typical classroom. That's not fair to either the bored kid, the teacher who has to deal with the resulting behavior problems, or he rest if the class.
My kid's school has 7 1st grade classrooms. In his class, there are kids at fifth grade level math and kids who literally cannot add numbers to ten (ie 7+3, 4+6, 2+8). In a school with that many sections per grade, I have no idea why they don't "track" (another dirty word that people freak out about) the kids. It doesn't have to be a permanent thing where you get stuck in a track. It just blows my mind how much easier it would be in teachers if they were teaching to a narrower ability group.
I went to a couple gifted meetings this week. In our district, they pretty much do track from 4th grade up. So that is good. And for 2nd and 3rd grade, they have a pull out in math and language arts that is 4 days a week for 30 minutes for each subject. So it sounds like next year things will be in good shape.
For the rest of this year I am volunteering in the classroom once a week during math time. I will be pulling out the top 4 math kids and doing either math/logic games (math pentathlon I think) or teaching a specific advanced curriculum. I'm waiting to hear back from the gifted teacher on that. When I went in yesterday to volunteer, I also pulled out the bottom 5 kids. I can totally understand why the teacher can't meet all my special snowflake's needs when I see where those bottom kids are. The gifted group actually has advocated hard for math specialists (there are already reading specialists) to pull those bottom kids out for special instruction, so that the teacher can focus on the kids at grade level. Hasn't happened yet, probably because we have a state 3rd grade reading guarantee (so lots of money gets thrown at that) but math, eh, who needs math!
Anyway, I don't love that the solution is basically just me coming in to teach math, but since I state at home and can make the time, I figure I owe it to my kid. And I would rather it be during the school day, rather than adding more time to his 8 hour day.
Final thought, I don't have links, but what I've read is that mixed ability groups were kind of a failure (when tracking fell out of style, mixed ability became popular because the smart kids would supposedly develop all these great skills helping their less able peers). Ends up mixed ability is bad for the low kids (they just feel dumb) good for the average kid, and bad for the high kids (they just do all the work and think their peers aren't very smart). The high kids might be good in the subject, but that doesn't mean they know how to teach their peers. Apparently they typically just do the work themselves instead. Helping your peers is obviously a good skill to have, but not reasonable to expect from a young kid.