my son is in 2nd grade, as well. his school does leveled reading groups, and i think he's almost appropriately leveled. if your school does that, i'd suggest talking to the teacher about testing her so that she's at her level. if your school doesn't use that approach, it may be more difficult.
math has been a struggle, though, because their curriculum keeps all the students on the same material. my son's current teacher has been adapting it a bit, similarly to how spaghetti mentioned. she also lets him practice his multiplication facts while the other kids are doing their addition facts.
i will say that it's very dependent on the teacher. this year, while my son isn't learning a lot of new material at school, he is getting to practice skills that he isn't as confident with so he's not so bored or stressed. on the other hand, last year was a nightmare because his teacher was r.i.g.i.d. and didn't like that he didn't fit her methods. every time we met with her to discuss his education, she came back to the same thing: "he needs to learn to conform." :\
good luck!
