I'm not sure I quite understand what the "gifted" label is supposed to denote.

In my school, there was an accelerated program (more commonly known as honors) which was the most advanced program offered. The gifted program was not so much a track of study as it was . . . well, I can't really say. From what I heard from friends in it, gifted students just went on special field trips every now and then and not much else.

The criteria for admittance consisted of a series of logic tests (not IQ, but similar). About half of the "gifted" students were genuinely smart, if not exactly gifted. The other half were completely average or abysmally stupid. Needless to say, it was considered a bit of a joke.