An interesting discussion for a primary teacher to wade into!
Skipping and repeating years doesn't happen that often in NZ, which has a lot to do with how the curriculum and schools are structured. Particularly at smaller schools and particularly at the earlier year levels there are a lot of composite classes (for example, I taught a Year 7/8 class last week and a Year 1/2 class today). It goes without saying, really, that you never ever find that all the most academically able children are the oldest and all the least academically able children are the youngest, you never ever find that all the most physically able children are the oldest and all the least physically able children are the youngest, you never ever find that all the most socially able children are the oldest and all the least socially able children are the youngest, etc., etc., etc. Personally, I really like teaching composite classes (the NZ curriculum is plenty flexible enough to accomodate them).
As for FishJr, I have no expertise in early childhood education, so feel free to take what I say with as large a grain of salt as you wish, but if she's bright enough to consider moving up a year at this stage, she'll always be prone to boredom at school; regardless of your decision, the most important thing is that you investigate what will be provided for gifted and talented students on a day-to-day, in-classroom basis as this will have the greatest impact on her enjoyment of learning in the school environment.
In a way, it's easier to deal with at secondary level. If I child excels at maths and science, they can skip levels in those subjects and remain with their peers in others. My quite strongly held opinion is that at any level, a teacher should be able to provide for the needs of each and every child in their class. Sure, it's difficult when a child has no natural academic peers, but it's yer freakin' job!!! 
I think I've babbled on enough for one night...
Last edited by DirtDiva; 09-01-2006 at 02:40 AM.
Drink coffee and do stupid things faster with more energy.