The math here is surprisingly weak. I'm not sure about where you guys went to school, but this is fifth grade stuff. Sure, there's a lot of memorization, more classics. But wowzers. No math.
Now the students who do math contests and are AIME/USAMO level could probably do the geometry section here without a lot of trouble, but they are the exception.
Check G-SRT.4 at http://www.corestandards.org/the-standards/mathematics/high-...
There's 2 trigonometric proofs, and a number of less than obvious geometric proofs, especially the latter ones pertaining to the circle. The rational equation in #8 on algebra going to involve solving a cubic. And although #7 in arithmetic wouldn't be too hard if you worked entirely in pence, it is still a trickier problem in the days before decimalization.
Granted, it's weird in this day of students taking 5+ AP classes to see no calculus, but the math isn't weak at all. Remember, there's no calculators here. Maybe a slide rule and a table of trig values/logarithms. But that's still a lot of work by hand.
Also, as you may know, many calculators today have a CAS, a Computer\Calculator Algebra System, that will gladly give responses as a surd or fraction (or even solve a differential equation). To my knowledge, College Board has yet to ban a calculator for a CAS.
In terms of proofs, they are pretty basic, and I learned that stuff in third grade. I mean, I went in and out of gifted programs, but I think the better question is how long does it take to get people to add integers correctly? Ten years?
I drove myself a lot as a child, and drove enough teachers crazy to have to switch schools about ten times before middle school, but I would be surprised if my experience is no longer strictly atypical for people seeking a world-class education.
Note: I didn't attend an Ivy-League, but I did end up skipping a few grades. All those were after elementary school, so it's likely I was ahead of students at the time -- ahead of average, not ahead of the expectations we should have for first class minds seeking a higher education in an age when this is exceptionally uncommon.
There are communities of people who would indeed consider this an easy test but they tend to delve even more deeply into classics than a typical contemporary of the test.