The notion that gifted students need a special environment to learn is comical. If they're actually talented and gifted, they should certainly be able to learn effectively in the same environment as "normal" students.
Learning to read and do arithmetic is important in the 3rd grade, but it isn't as important as learning social and communication skills. I don't deny that there are gifted individuals among us, I'm advocating that we wait on trying to identify the gifted ones at least until puberty.