Ok Ishani - I should point out I havent read the whole thread (I know, I know) but just wanted to add my own experience.
Not trying to be an arse here I promise, but as a child I was classed as gifted believe it or not. I was singled out, passed everything with flying colours, was advanced far beyond my age group etc etc.
I went to state high school, which didnt have the same approach of challenging the academic students. I soon became very bored.
Couple this with not very supportive parents and personal issues, and I cocked up my last years of schooling.
Fast forward several years - I have gone back into education and am doing great. I am still classed as the "clever one" and tend to excell in my assignments.
I like to look at it this way - life has thrown alot of shit at me, but with brains you can always make it. Yes, its true that had I gone to some exceptional private school and had supportive parents id probably be in some high flying career rolling in money. But you can always fall back on your intelligence - looks will fade, money will run out, but your mind will still be there.
A truely gifted child with your support will always make it.