Yes, yes, yes! This is myself and this is my child. In fact, today I am meeting with our homeschool coordinator to see about partially homeschooling my son in Language Arts but allowing him to do the reading etc. during the school day when his classmates are doing their L/A. This is my first time trying to get his curriculum changed to a serious degree (he was grade skipped once already) and my MAIN reason is not so he learns 10th grade material but so he learns to work, study, meet and conquer and yes feel some sense of failure and learn how to move through it and at the end feel the sense of accomplishment that comes from perseverence and not the glib satisfaction of a job easily done.
So many Gifted kids turn out to be underachieving adults for this reason. A great mind is a terrible thing to waste. :-) Why does the educational system insist on doing just that?