ok, wading back in here...
TV was dead-on about high IQ correlating to shitty study skills. I studied a grand total of five minutes in high school, and still managed straight As. In addition for it setting me up to get hit by a truck in college (studying chemistry at a top 25 uni), it also made me think that perfection was the bare minimum, and anything less meant I was a failure...my sense of self was very tied in with being "smart". So, I spent most of my junior year battling acute depression with occasional suicide ideation. Good times. Fortunately, I somehow got straightened out somewhat, had a healthier attitude towards grad school (where the idea of "perfect" doesn't mean all that much), and am now kicking ass professionally because I am a good strategist, can break down situations very quickly, and have really worked at my soft skills.
To Stadler's point about strategic thinking...that is really a critical aspect. It really gets to abstract thought...which is sort of a proxy for how "intelligence" is often defined. It's not how much information you have in the memory banks, it's quick application of that in new situations. At leasy by the Jungian definition, about 20% of people are abstract thinkers, and maybe a quarter of those have the other traits that all add up to being a true strategic thinking...right on with that 5% figure.
i hope that makes sense...I've been drinking.