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socially behind during junior high and had a lot of emotional issues during the ages 11 - 14.
While you know yourself best, so many children have issues at this age... is it possible that the issues were not related to the grade skip, but may have occurred regardless?

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Ds7 could possibly benefit from a skip, but I am worried that it might further isolate him socially from his peers.
This may depend in part on his/your definition of "peers"... chronological age? intellectual peers? academic peers? Some families find it helpful to develop several sets of peers/friends/acquaintances through various interests, extracurricular activities, clubs, camps, etc.