Our two made it through public elementary without acceleration, though we do have a (quite limited) pull-out program. Overall, it was least-worst for us. My DD had 2 years which were not good, but they were interspersed with very good years, mainly teacher-dependent. Personality played a role for us; my DD Is a kid who devises self-challenges wherever she goes, and that is primarily how she got through. (She is the kind of kid who would take the lame spelling list and try to devise a coherent, concise short story using all the words, sometimes in order, etc.). We did afterschooling intermittently as well. It also helps that we are in a high-performing district, and our kids have each had some outstanding teachers (plus one or two we could have done without). My DD never found true peers in elementary, but our DS had a couple kids who were near enough to him in abilities and interests that it was OK. Both participated in things like science clubs, lots of music through school, great art programs, etc, which helped fill their tanks.

Now that they are both in middle school, things have really taken off. There are more peers (multiple elementaries feed into the middle school) and more opportunities, electives, and afterschool clubs. DD got accepted onto an academic afterschool club "team" which is very rigorous, multi-grade, competes at the national level, and has regular practice/interaction with the corresponding high school team- a godsend in many ways, and a great fit for her. (Almost makes up for the fact that there are still no differentiated classes or acceleration allowed at her grade level...). They are still "out there," but there are more kids who get their humor, like the same books/movies, embrace their quirkiness, etc.