We didn't do an official double-grade skip, but DS10 now in 6th skipped 1st grade and then switched to a FT GT program that worked ahead at least a year, so an effective grade skip. First of all, you sound like you have some very decent options in both districts --they actually have GT programs and seem to understand where kids need to be placed. This is rare.

Maybe I'm doing the math wrong, but it seems like your son will be about the same age as mine if you do the double-skip. My son is also smaller for his age. In elementary, he was not quite up to grade level in physical education, but that was not a huge problem. Now he seems to be getting a bit more coordinated and can hold his own in the rec sports at his 6th grade, like soccer/ultimate frisbee. The current school is new and has no GT program, but they are flexible so that he's now subject accelerated in math to Algebra. He seems to get along fine with all the kids in the different grades, though I think he would prefer if all the kids were his age. But since that can't really happen at his current school, all in all things are pretty good. There is a lot more project-based work at this school so DS10 can do work at his level, which makes up for the lack of GT program.

I am sorry your kiddo has had troubles with bullying by older kids. Does the new school seem to have a better environment or a program to deal with this?