The gifted program helped me immensely in highschool, although the hour or two I actually spent in the gifted classroom was mostly wasted playing board games. However being in that program gave me the ability to switch classes/teachers whenever one wasn't working for me, usually because some teachers could maintain a civil classroom and other teachers let the students run wild and taught nothing. Because I was in the gifted program, the school permitted me to switch out of those classrooms into classes taught by competent/caring teachers.
This suggests to me that the advantage of the program could be conferred to students who score low on IQ tests but are nevertheless behaved in class. A better gifted program would be one that differentiates on the basis of civility, not IQ. Of course, deferring measurement of IQ to some licensed professionals is easier than objectively quantifying a student's civility, so I don't know how this would actually be implemented.