In my district if your FISQ IQ is <129 you are bright and if it is >130 you are gifted, minorities are gifted at >120.
Sadly this concrete definition causes many kids get overlooked.
I don't think the there is a solid line or a chart which can distinguish between the two. I also believe, that like 2E, it is possible for a child to be both bright and gifted in different areas.
I believe that bright is the ability to learn quickly by observation. Bright learners need to follow the rules and steps to get the correct answer. To do multidigit addition a bright learner may quickly learn to follow the steps, but will often lack the understanding of why the steps are being to be done. The correct answer is the goal of the Bright.
The gifted learner, on the other hand, is not content with "how" they need to know "why". Show a gifted learner how to do multidigit addition and they quickly learn/understand why the numbers are being carried over, even if they forget the proper steps LOL!
