Squirt,
I sympathize. I would say we are in a similar sitation with DD and DS. They are at a private school, larger than yours, but the school doesn't differentiate until 6th grade. So DD is in advanced classes, but it's still not enough.

DH and I have decided to take matters into our own hands in a way. DD is taking EPGY math again this year, and is currently almost 2 years ahead of her advanced math class. So, paradoxically, she's now more bored than before (in fact, the math teacher asked whether she wanted to teach the class after he saw what she can do).

There are many positives about the school. The fine arts program is unparalleled, and that's been an invaluable asset. We are doing the best we can, and waiting until late middle school/early high school, when it looks like students can do AP classes as early as freshman or soph year.