Uncephalized pretty well captured it, but I think IQ is more a measure of potential than intelligence, simply because you could be off the charts in terms of IQ, but you'll still grow up to be a moron if you don't have the motivation to apply it.
In addition to that, I've gone to high school with at least one kid whose parents preached to him how important high IQ was, and that he had one, and that kid was a total douche, so I wouldn't mind it's use being down played just to prevent that.
