I get sporadic angst about this. Dd is very bright, fluent reader before school yada yada. we sent her to a local school which is probably "last" out of the 4 local ones iyswim, 2 of those are religious schools, which tbh I am not willing to jump through the hoops of (not religious).
The best regarded school,she did not get into due to distance. Her school has a "good" ofsted and she loves it. However I have noticed some parents had their children on the waiting lists for the "better schools", a few of the more affluent parents left for private, there was quite a turnover between year 1 and 2.
I do sometimes look at the catholic school,with it's own swimming pool and brilliant results and think I did the wrong thing (I was brought up Catholic, so could of blagged it).
On the other hand I think that a school with a good reputation is a self fulfilling prophecy. Supportive ambitious parents with bright children will end up bending over backwards to get in there. The general entry standard will be higher, therefore results etc will be higher. With lots more children at a higher standard initially, they will have more resources to target under achievers therefore raising value added scores.
Not much I can do tbh, just wondering and hoping dd will have the same chances.