One of the, if not THE biggest down fall of gifted students is not being challenged, not needing to really WORK at much, then when they finally ARE challenged, it's like an axe between the eyes. It WILL happen eventually, better to be challenged early than go though and not be so until college when there is less support system around them and they're going through life style changes as well.
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A couple of things that helped our DS though the stage you're referring to:
1. Help them to understand that there is room in the world and even in their class for more than one "smart" person.
Just to second everything OldDad said so well, and particularly the above--college was a complete shock to me, as it was the first time I had to work to get A's. Not what you want for your kid.
Re above point #1, with our DD we discussed these two examples that resonated with her; maybe not for anyone else. They are Mozart/Salieri (as perhaps inaccurately depicted in the movie "Amadeus") and Secretariat/Sham. Both are pairs of gifted individuals; the second in each pair was exemplary by the standards of their time and endeavor but was overshadowed by the even more exceptional first in each pair. The lesson we emphasized is that there will always be someone better/richer/smarter/whatever than you, but you should be proud of your best work regardless and find your niche. (Although to be honest, not so sure that holds up for racehorses--just that if Sham had been self-aware, he should nevertheless have been proud of his efforts.)
Best of luck!
