It's possible for a student to be advanced in math but not equally advanced in other fields; it's also possible for a student to be academically but not emotionally advanced; both of these may make it better for a student who is academically prepared for calculus to pursue it in high school rather than a post-secondary environment.
If the kid is ready for college, then do it!
however, in my last 10 - 20 years I've never actually calculated an analytical derivative. I think there might be some economists somewhere who are doing so, but in my experience that's generally because they don't understand enough about computers or modelling, and they're just roting 30 year old techniques.
I think more discrete math - at least first-order predicate calculus - should be added to high school math. But that would not take a lot of extra time, you could sandwich that into other things.
Statistics uses calculus heavily as well. It's hard to determine the probability of something lying in a range of a standard distribution without integrals.
On the other hand, 90% of the people going through college that take calculus are there to get education to do a job that requires little to no calculus. The hard part is predicting which 10% we should educate. Teaching calculus leaves the option open for that 10% to do the jobs that need it.
English composition, World History, US History, all are part of a BS program. Why make a kid sit through 4 years of remedial junk in High School when he is already at a college level?
But you are right, remedial stuff like grammar, writing, and Algebra should be taught at a Middle/High School. Kids shouldn't graduate until they are done with that. But keeping someone 4 years at a High School just to run out the clock on their DOE funding when they hit 18 is nuts when they are at a college level.