Yeah, I agree about not letting it go if what you really feel is best is a grade skip in the fall. We dealt with a similar situation where the school refused my request to move MrWiggly up to 2nd grade math in the middle of 1st grade. He was HORRIBLY bored and starting to act out. When they refused we pulled him from math all together, doing partial homeschooling the rest of the school year. We let the school know THEN that son would be ready for 3rd grade math and needed to be tested BEFORE the school year started.
It worked for us. They tested in August and agreed to 3rd grade math. He's doing great - straight A's, even in 3rd grade math! And I think it helped the school feel like they had some control over the situation. And I think using the Iowa Acceleration Scale is a great idea - just ask that the school team sit down with you at a meeting to complete it together. We donated the manual to the school as a goodwill gesture.
I'd suggest leave him where he is if he's okay with it, supplement with home stuff to help keep him learning. But let the school know NOW that you want to look at a full skip for next fall. Good luck!