I didn't skip any grades because my dad wouldn't allow it. He had skipped two grades and hated it.
I know a few people who skipped grades, and they were always kind of outsiders. I say this from the standpoint of being part of a very nerdy clique in high school -- those who skipped grades were outsiders compared to us.
I think adults neglect the fact that education is more than just book learning. Youth need to learn social and emotional skills as well. There is more to learn at school that just academic skills, and this goes for all levels. For instance, you can spend 100% of your time on academics in college, but soft skills are at least as important as academic skills in the workplace.
Skipping grades isn't the only way to cripple children socially, and I'm not saying it's a social death sentence. Most of the kids I know who skipped grades are fine now, but some never really recovered, and some bear emotional scars from the experience.
On a similar note, a weird thing I noticed that is kind of similar, is that only children tend to be fairly poor at handling conflict. My theory is that if you are not an only child, you often get in fights with a sibling who you were then forced to be around. (For instance, sitting next to them in a long car ride.) Only children generally can leave situations when they get heated, so they never are forced to work though a conflict.
I might be totally wrong on that point, but I think there is something to the theory. My mom was an only child, and she could never understand how my brother and I could come to blows over one thing, and then be playing a game together ten minutes later. I didn't think much of it till I dated a girl who was raised an only child, and I noticed the same aversion to conflict. Every disagreement had to be resolved, any time we disagreed about something it was considered an argument.
Meanwhile, some of the calmest people I know during disagreements have like 7 siblings.