I live in NYS. My son is a senior at a school very much like the one you describe, though it is smaller and also handles kids with other issues (severe ADD, controlled BP and schiz, Tourettes). All of the kids are of at least high average intelligence and many are in the superior range. We are SO happy with this program. My son will be going on to community college in the fall but has the chance to take career counseling and vocational education before or after college.
My son fell through the cracks at our local HS and would probably be a drop-out.
We thought about homeschooling, but really wanted him to be around peers. He has them now. He goes bowling, to the movies, iceskating, paintballing, etc. with friends from his school (who come from all over our county, there is only one other kid from our town in his grade and that's a girl).
I would seriously consider it, at least go take a look and maybe have him attend for a day.