Educating High IQ Students

Dennis Mangan writes about how our primary and secondary schools neglect high IQ kids. He quotes the WSJ as saying "U.S. schools spend more than $8 billion a year educating mentally retarded students, but according to rough estimates, no more than $800 million is allocated toward the highest-achieving students."

Of course high IQ kids get huge amounts of resources thrown at them in college and graduate school. I wonder if this is the right temporal allocation of resources for high IQ types. Would high IQ kids be better off if they had less money spent on them in college in return for getting more funding for their primary and secondary education? At what age, I wonder, do smart kids most benefit from consuming expensive educational resources?