In my opinion a goal is never complete unless you have some way to measure it. For example, we do family goals each year. Yes, I'm a goal freak! And we put things like by the end of 2011 we will go away on a weeks vacation with the family or by March of 2011 we will get a new flat screen tv.
So for your gifted student maybe by the end of the 2010-2011 school year DS7 will complete all grade requirements for math and reading at level 3. Additionally DS7 will complete at least 25% of grade 4 requirements in math and reading as documented by the teacher. We would like to measure success using CRT and NRT testing with a baseline test and growth of at least 15 months in each subject which is the average for gifted students.
It all depends on what you want and what is appropriate for your child. It also depends on the acutal mandates and laws of your area. I think I saw you were in England which means you are already one year ahead of our area so advancing to the next grades subjects may not be important for you. For us it is of the upmost importance so we can stay competitive with world education.
Good luck and keep us updated