You are so correct in this. Homeschooling allows children of all abilities to work at their own level. Even in homeschool, though, one needs to be careful to challenge bright kids. We've forgotten this a few times: http://anniekateshomeschoolreviews.com/2010/05/overwhelmed-under-challenged-unmotivated-disobedient-or-just-plain-lazy/
Unfortunately, the Time article you mention is no longer freely available. If you still have access, it would be wonderful if you would list the main points of the article.
Thank you Lee for emailing this to me (I'm a gold club subscriber). This is the EXACT reason we are homeschooling our profoundly gifted son (IQ over 155+).
When he started reading at age two we knew we were in for an educational challenge (we had prior experiences with our gifted yet handicapped daughter).
We enrolled him in public school for kindergarten and that was a total failure. The school didn't know what to do with him or where to place him. They were afraid to place him in the higher grades because he was emotionally too immature but the kindergarten teacher told us that since he could already read and that she had 20 other children who couldn't, that she could not spend time with him to advance his reading skills. We pulled him out after this and enrolled him in a private school that worked with every child one on one for reading and math. After 3 years, this school moved more than two hours away. We couldn't do the daily drive. In all the schools in the nation's 6th largest city, we could not find a school that could educate our son.
So, we decided to homeschool until a better option (aka school) came along. We quickly realized that homeschool was the best option. He was challenged, he was learning, we were all happy. So we continued, I temporarily gave up my career (I'm a voice actor) to homeschool him, it's a fully time job! We sought the help of a Mensa youth coordinator in our area. Her advise was a great help in selecting educational materials, designing curriculum, and keeping him interested and challanged.
Our son is a lot like the children mentioned in the article, he's smart and he knows it. This can make him arrogant at times and this puts people off. Because he speaks as if he's a college professor, others (including adults) feel uncomfortable around him. He has been beaten up and bullied at schools because he knew all the right answers and then some. He has friends but very few. He is a loner and he likes it, he says being a loner makes him feel safe.
We just relocated back to the states from Spain (we're your Navy family!) and have to reestablish activities. He has started back into a martial arts school in a class of teenagers (he already has a black belt in another style and is starting over as a white belt - a wanted challenge for him); and starts swim club next week. He's also joining the city's theater/opera group this fall.
The Davidson school is a great idea. I just don't know if it would've worked for us. Having the family together is important for healthy emotional development and to know first hand what normal/healthy family interactions are. Unfortunately, moving to this school seems like it has fractured some families.
Homeschooling works for us.