Hello - your DD also sounds a lot like my DS, who I predicted to be a high level 3 or a level 4 after reading Ruf's book, but who turned out to be PG. Sometimes you can't tell from just one score, and I think gifted parents tend to underestimate because to them, their kid seems normal.
Since you are not guaranteed a spot in the gifted magnet, I suggest you apply even if you haven't made a decision yet so you have all the options on the table. And if she doesn't get in this time, like you said, she will have a good fit 2nd grade teacher.
My DS7 just switched mid-year to a HG magnet. He commented that it was much harder. I told him I thought things were a little too easy at the other school. He said, "I like it easy. You know how I like to play on easy mode on computer games? Well, the new school is on hard mode." I am glad we switched now, because hopefully he will learn more about perserverance in the face of challenges. So, I would vote for trying to get to the GT magnet sooner, rather than later. My DS also loved his teachers at his old school, and he had friends; it was hard to leave, but DS said he wanted to switch after he toured the new school. If possible, I would suggest touring all the grades - that was enlightening for all of us, and DS really liked that the 4th graders were "doing really hard stuff."
As for the math, I recommend working hard to get appropriate math - that should be pretty easy for the teachers to do. I feel I lost out in school because I was seen as the verbal kid, and even though I did really well in math, I never felt it was acknowledged and so I never pursued it.
Good luck in your decision making!
