My son is in third grade and I recently shared his scores with him for the first time. He was tested for the highly gifted program and I wanted him to understand that he did great on the test and was still smart even if his scores don't end up being high enough to qualify. I told him that I was proud of him for working hard on the test and used the opportunity to explain what percentiles mean. I think a lot of it is age dependent though, I wouldn't have done that in first grade.
I've talked to a few friends about gifted issues- but only those who have gifted children themselves. Otherwise is it tacky/boastful.