While the response that GP got was wrong on my levels, what was done to that gifted kid was no favor either.
Anecdote warning: I've seen very few kids who skip more than a grade (if that) who have the ability to relate and function among peers well. They're not generally going to be accepted as a peer at that age by kids a couple-few years older than them - and for many, school is where that skill is learned.
Much of the research states otherwise. While there are certainly instances of your anecdote that do occur, the rule seems to be that higher achieving students function better with those at their level than with those beneath them. And, even then, the problem is temporary. The majority of those accelerated kids, when interviewed as adults indicated that they wish they had been accelerated soon or more, and that any social issues were temporary and fleeting.
Anecdote warning: I've seen very few kids who skip more than a grade (if that) who have the ability to relate and function among peers well. They're not generally going to be accepted as a peer at that age by kids a couple-few years older than them - and for many, school is where that skill is learned.