M.M.
What does your school offer in gifted education? Is it a pullout program or an actual class where the gifted teacher comes to them? Or the whole class is gifted?
I would see what this school has to offer.
If he is truly highy gifted or profoundly gifted and gets along better with kids who are like him then he would do better in a school where they cluster those kids together. In those classes they will cater to the needs of the higher funtioning child. If he is a happy kid who is just brighter than the rest of the world and makes friends everywhere and your school of choice ihas a program then he will most likely be fine.
If I had this choice I would have moved my dauhgter. She can't really understand anyone who doesn't think like her though and really gets annoyed with the rest of the population, me included.
There are many choices as your son gets older. Start googling gifted programs now to be ready for 4th grade and up when he can start going to camps and taking achievement tests for scholarships and such.