I'm comforted by this Hoagies page:

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A child's level of giftedness will mean something different to every child, in every family, school, and life situation. No one can say, your child is profoundly gifted, so they cannot survive in traditional school. This may be true for many pg children, but not for all. There are no hard-and-fast rules...

But there are some generalizations. Moderately gifted children tend to do well in the regular classroom, with the added challenge of differentiation, a gifted pull-out enrichment program or mild acceleration in their areas of strength. Highly gifted children tend to do well in congregated gifted classes, such as offered in a few larger districts across the United States. These classes are most successful when they use a more in-depth curriculum, which also moves at a faster pace. Gifted children are different not only in their faster learning, but by their deeper interest and level of understanding. Both these differences must be addresses in a successful educational situation.