In New Jersey and Massachusetts at least, there is absolutely no move to water down the math curriculum in any way. On the contrary, the schools here compete on how many AP courses are offered.
Boston proper and surrounding areas have begun to suffer from the same epidemic of anti-gifted mania that plagues California and is beginning to affect New York City, especially with regards to the exam schools (i.e. Boston Latin et al).
And then the home school quality goes down and that hurts everyone else who isn't among the small group at the magnet.