Good point about the reading - here, K is responsible for numerous sight words (which DD4 already knows), but 1st grade is the "reading" year. She is picking things up rather quickly now with the Word Wall concept, so I expect she'll be well on her way by the end of the summer.
Her WPPSI was FSIQ 139, Verbal = 141, Performance = 135. Processing brough the FSIQ down; she had only a 110 on that (psych said she was very much a perfectionist during the test). To me, her score is not that high - especially considering what some of you all are dealing with! But when I visited the K room in our district, my first thought was "Wow, she's doing that NOW. What's she going to learn next year?"
I hadn't seriously considered the grade skip until Grin's post last night, but I happened to mention it to my DH before going to bed, and he LOVED the idea. So perhaps we've got some thinking to do....
At this point, however, I'm not even sure how we'd approach the school.