Keep in mind that IQ is only part of the picture. The child's temperament, social emotional skills, interests, organizational skills and other cognitive factors all play a part in how easily and quickly a child learns.
I've seen plenty of children with relatively high IQ's (high average to superior), that are better off in the regular curriculum. I've also seen plenty of kids with lower IQ's (Average to high average range) that progress quickly and are class leaders.
I'd say that while there might be guidelines, it is important to look beyond the numbers. There is a lot of gray area when it comes to learning and academic success.