Our DD started K last fall at 3.5. Several of her classmates were already 6 when school started, or shortly thereafter, so there was a big age disparity. But, according to her teachers' reports throughout the year, and our own observations, it was never an issue with the kids. She fit in well with the group as a whole, and bonded very closely with another little girl more than two years older than she is. So it hasn't become a social issue for her (yet, who knows what later ages/years may bring).
That being said, it was not all smooth sailing. The parents were the problem. There was a group of parents up in arms over her placement, and it took a long time to bring them around. Like GHS, I felt like I needed to refrain from drawing attention to her chronological age whenever possible. So disappointing.