I definitely consider myself a proponent of finding the best place for a child. In our case, with a total lack of GT services in our bankrupt state, grade-skipping made the most sense.
Short version: Our son bypassed K, entering 1st at age 4. He later skipped into 5th a couple months after starting 4th grade. He's now a 10yo 7th grader (taking 8th grade Algebra) and is doing extremely well both academically and socially.
Despite being the smallest (& youngest) in school, he does very well in P.E., which was probably his biggest concern about entering jr. high.
I've spoken with a few of his teachers and they were all surprised to learn his age. My only advice/request for them was to not make any mention of it. It's truly been a non-issue, and the less said, the better for all.
He's very active in tennis and martial arts outside of school, where grouping is done by skill level, not age, so he's always been around older kids in that arena as well.
From what I've read over the last few very intense years, we've been extremely fortunate to have a local school system that has worked with us every step of the way. Sadly, that's not the case for all kids.
Back when we were considering his first skip, I think that in addition to the wonderful stories shared in this community, the personal experiences described at "A Nation Deceived" played heavily in to our decision-making process.
If you've not yet read through these stories, you should take a few minutes to do so:
http://www.accelerationinstitute.org/Personal_Stories/Read.aspx
