DD3 just made the cutoff to attend preschool this year and we also chose a play based school. She is extremely advanced academically (reading very well, math on her fingers, into science and history) but her fine motor skills and especially her social skills (shyness and quirks) mask it tremendously.
I can say that she loves her preschool and has made great strides there socially. I can also say that we have no problems with the academics not being at her level. There are none. And, I know she is learning a lot of age-appropriate stuff there through play--things like sharing, waiting your turn, listening, following directions, independence, etc. She is weaker in the visual special realm, and school is great for that. It is also great that she is the youngest by six months, and most kids are a year older due to redshirting.
She too, looks like a completely normal 3-year-old at school which is what we wanted, and want for at least the next year or so. We are not all convinced that she is gifted and will absolutely need accommodations when she is older. This is probably because of her asynchrony and personality. For now, it is quite easy to bypass any stress of schooling an advanced child via the play-based route.