Thanks for all of the thoughts guys. I just talked to his teacher last night and she told me that he is usually "beaming" when he comes back from his 2nd grade classes. The school that he's at goes through 8th grade so I'll have at least a few more years before he starts running out of topics ;-) I'm getting the feeling that the school may be setting the stage for a full grade skip somewhere down the line but for now this arrangement seems to be keeping him happy. It seems as though he is speeding up in his academics before our eye and I won't be surprised if there comes a time in the near future when we have to deal with this.
Just the other night he told asked me what would happen if the microwave didn't stop and kept counting to negative sixty. I didn't even know that he knew what a negative number was. Turns out, not only does he know what they are but he can even figure out basic adding and subtracting with negative numbers. I have no idea where he learned it and neither does he. Like I said, I'm open to the idea that we may have to do more soon...