Hey there,
I am not only the mother of a phenomenal 8-year old, but I also happen to be studying early childhood education at Cabrillo College, here in the Santa Cruz area.
While I am old enough to understand the academic point of view (I grew up with the "old school" thought of child academics), I have to say that developmental is the way to go.
The NAEYC takes the position that children who experience high quality, developmentally appropriate child care programs not only engage in more complex play, demonstrate more secure attachments to adults and other children, but they score higher measures on language development and thinking ability.
The "teaching" most children get in an academic oriented, test based curriculum is basically memorization. When a child learns his "one...two...threes" (s)he is not learning numberness (or what the concept of numbers equate), but is just learning that if (s)he says the words in the right order, (s)he gets praise. They don't have the ability to fully understand anything more advanced then that yet. So instead of having them drill, give them toys, play with them and have them learn what more is, what less is, what one car looks like and what many cars look like. You will find that if you give the little scientist in every child a chance to experiment through play, you will have a happier child who embraces the learning process.
Unfortunately, due to the way current schools systems run, there will be plenty of time for drills, tests, memorization, and more tests. Give you child the opportunity to be a child for as long as possible and you will find that there is less fuss at homework time, more excitement in the learning process and a smart, self-reliant and capable young adult in the making if you embrace appropriate developmental care.