There are many great resources that can be used to expand the depth and breadth of elementary school mathematics. I'm not totally convinced that depth and breadth removes the pace issue, but I think these types of alternative should be explored before rushing into higher levels of math. I believe using an online program like ALEKS along with the following problem solving enrichment programs gives a nice balance of pace, depth and breadth.

Art of Problem Solving - has a variety of resources that can be used to enrich elementary school math for HG/PG students.
http://www.artofproblemsolving.com/

Ed Zaccaro - I went to an Ed Zaccaro session at the TAGT conference this year. He has terrific resources for expanding problem solving for highly gifted elementary math students.
http://www.challengemath.com/

Math competitions - can provide some stimulating problem solving exercises and opportunity to work with like-minded students
Mathematical Olympiads for Elementary and Middle Schools (MOEMS)
Math Kangaroo Competition - grades 2 through 12
Online Math League, part of AcademicLeagues.com

I am in the process of working with the school to develop this type of a plan for my dd. I am making progress but we are not there yet.

Summer