I agree with gratified3, I have tried with parents of kids who are advanced, but it doesn't work and just causes problems or bad feelings. Now I just keep my mouth shut, I will get comments about the girls "smarts" but I just keep my answer simple and complement their kids and it makes life a little easier. Have play groups be just that, play

Ditto. Play is play. I don't tell other moms what my kid can or cannot do. They often share and I often tell them how great that is. I want them to feel good.
I think it depends on what you're hoping to get out of the playgroup. If you are purely thinking of it as a place for occasional socialization for your child, then it may not matter if you share information with other moms.
Personally, as a stay at home mom, I needed the playgroups for me. I wanted the conversation and companionship of the other mothers. And, in my opinion, there's no way adult friendships can form if you feel you can't discuss your own child.
I feel lucky that I had a great experience with playgroups. I had one baby playgroup when my dd was born and then I moved and formed another playgroup with toddlers. That one still exists, nearly 4 years later. All of the mothers in it are different, but we have grown to be good friends. I would say that at least 2 other children in the group would be considered MG, but nothing like my dd (now 5). However, over the years, we have discussed the ups and downs of all of our children (physical, emotional, developmental, etc) and parenting choices we have made and continue to make. The other mothers know all about my dd and the challenges that giftedness can bring - and have been nothing but accepting of her.
My concern with the advice given by other posters is that the gifts these kids have can't really be hidden. In my opinion, either you bring it up or just wait, because it usually won't take long for the child to do something obviously gifted (like when my dd, just turned 3, read "Baby Me" off of another mother's pregnant belly - it was written in cursive). And then just know how you want to handle it when it does come up.