Discussing the topic of wisdom over at Chicago Boyz, I hit upon the idea that IQ tests are rather like the decathlon. We declare the winner to be the world's greatest athlete, then forget about him the next week. We pay, and pay attention to almost every other athlete more. We apparently don't really think the decathlete is the best; or perhaps we value athletic display only in context of accomplishing some goal, such as hitting a large or small ball somewhere, so that a more limited number of combined abilities is admired. The decathlon certainly does test athletic abilities, and while we might add or subtract others (think pentathlon), those abilities would likely greatly transfer to any sport we might devise.
It is both true and false that the decathlete is the world's best athlete, and I think it fits the IQ/Other Smarts debate pretty well.
Update: Comments over at West Hunter - ouch