Having an IEP meant I got special attention in elementary school, which really boiled down to a) some extra math worksheets and b) getting pulled out of class once a week to go with the other IEP kids to a special "gifted" class. The content of that class was probably less important than getting us out of the regular classrooms. This gave the teachers the chance to repeat material without boring us (and the behavior problems that come from that).
Now I'm the dad of a talented 10 year old boy who doesn't have this experience and is bored constantly. He is basically forgotten about as he's never going to test below grade level even if he's completely ignored, and there's no incentive or requirement that he stays engaged.