My dd (now 12) started pre-team at a gym in St. Louis at the age of 5. The very wise coach/owner of that gym told a "gym mom" that if you think that gymnastics is a road to a college scholorship(sp) quit the gym now and put your tuition in a college account. There were 22 girls in dd's pre-team class, she is the last one still competing. I still keep in touch via e-mail with those gym owners, they are a good source of experienced advice.
Our gym only recently started competing level 4, of the 24 girls that were in her new class at the gym she attends in Illinois, only 4 are still with the team. They didn't start competing until they were 8 year old level 5's. I keep that very wise coaches views in mind whenever I consider my dd's gymnastics career. He had a very honest and truthfull approach to gym management. So many people tell you what you want to hear.
We don't have any home equiptment except for a floor beam, which now never gets used. No more requests for open gym, 16 1/2 hours a week is enough. Dance, school(homework), and Girl Scouts take the rest of her time now. So I guess I just want to say don't expect too much, just enjoy the fun while it lasts. And take that coach/owners advice when setting your expectations, a child of 5 or 6 may or may not have the same drive for gymnastics as they get older. Or they may decide on a whole new path.