For some background - DD7 has always been very verbal and I always have other parents commenting how bright she is. In preschool, we sent her to Montessori and she thrived. She was curious, loved all of the activities, and learned so much from the older kids in the class. For K we switched to Catholic school. It was ok. We knew it would be a transitional year. In 1st grade she started to act out by talking out of turn, and got in trouble quite a bit. DD also procrastinated doing homework which was word sorts, writing sentences, or a math workbook. The work was not hard for her but she hated doing it. Now in 2nd grade, we have the same issue. A bigger concern is that she is not enjoying school.

We decided to have her tested and she did well on the WISC-IV (superior or very superior for all subtests except for processing speed which was average).

The most frustrating part is that we received a progress report today and for reading she received a "P" for progressing. DD was reading in preschool. Now she is progressing? Really?

So I need some help figuring out what is going on and what to do about it.

Is this a classic case of a bored kid in school?
Is it a teaching issue at the school?
Might DD have a LD or ADHD that is not obvious?
There is a great GT program in our area - should we even try to apply or are we setting DD up for too much competition? I'm concerned about getting in because of her grades and we need a recommendation.
Has anyone had this issue in earlier grades and resolved it? What worked?

Thanks for your help and advice!