Dd5 is grade skipped and in first grade at a small private school similar to what you describe. Admistratively, the school is badly managed but the teachers are fabulous. Based on our experience, i would highly recommend that you consider the private school. At this young age, it is not only about what they learn at school but really how they learn. Doesn't sound like the public school is lighting that fire in your dd. My dd has friends both younger and older than her and it is such a good feeling to watch one of the older kids take her under their wings and help her with something. All the best with your decision. Believe me, I struggled with this exact issue for a long time. Finally I decided that I just have to take it one year at a time and evaluate the various options every year.