This year, he placed 2nd in a regional math reasoning contest out of approx 1400 advanced math students (reasoning and computation combined) who started at the school level. Given this, I asked his teacher during our latest conference if he�s being challenged at the level he�s capable of and she believes he is.
Do you ever feel like you are inside a movie? How often can one hear 'I believe he/she is' from a teacher with a straight face.
OTOH, since your son is working hard (not counting handwriting and spelling) on a regular basis, and having fun, it's reasonable to keep him where he is and supplement at home - try websites for Khan's Academy and The Art of Problem Solving - look for
http://www.artofproblemsolving.com/Alcumus/Introduction.phpand let your DD play too.
There may be 'Math Circles' in your Metro Area - ask the parents of other kids you met at the competition ....Does anyone else know how to find the local Math Circle?
In most schools, there won't be much 'math reasoning' inside school until High School, even by a grade skip, although your school sounds like it may be different.
I think testing DS is a good idea, because I do think that you are have been surrounded by people who underestimate him. Perhaps you can get the testing without the 'interpretation' for less.
Best Wishes,
Grinity