I echo what Master of None said. Our middle school gifted is exactly as you describe (4 cores, with a double block of language arts; PE, music, lunch, etc with entire grade). The curriculum is a year ahead (2 in math), but sometimes I feel like the main difference is homework. I don't mind the challenging work, but the busy work is enough to make us scream. For a kid who is involved in a lot of outside activities (right now he has a sport every day after school and music three early mornings), it leaves very little time for anything else. My ds13 is very organized and hardworking, but I worry how it will work for my ds11, who is entering MS next year. He is really smart, but I doubt he'll get straight As because he just isn't willing to put that much time in. Sometimes for Ds13, I wonder if it would be better to be in the regular curriculum and whip through the work and be a little bored, but have more time for things that are actually challenging to him, like his AoPS class. The in class curriculum is nice, but I don't really know if the kids in this placement are happy. They don't seem to focus on the social emotional needs nearly as much, and they don't do a lot of the fun activities that the non-gifted kids do. It's a hard balance and for now we've chosen to stay with the gifted placement, but our other option is very basic. If I could get a moderately challenging curriculum without the "these gifted kids have had it too easy and I am going to challenge them" (meaning, give absurd amounts of homework, not actually challenge), I'd definitely consider it.
If possible, talk to other parents and kids in both programs.
Good luck!