This perspective is a little to pessimistic and narrow in what the definition of a high IQ person is. Advances in genetics, IQ testing and knowledge of the brain has cleared things up recently. There are many tests that claim to be IQ tests but there are two categorizations of the matter which they test. One is fluid intelligence and the other is crystallized. Crystallized intelligence is the worst component to measure, since it can be taught. It is factual knowledge.
The Swedish MENSA IQ test for example, is just matrices. They are called "culture fair" IQ tests due to the fact that the test scores do not get altered much depending on the cultural background of the test taker. They require you to be able to solve problems using logic, spatial intelligence, and short term memory. The only times you read text is in the beginning of the test, where you read the instructions.
There is a relatively new field which seeks to answer the questions underlying intelligence, called cognitive genomics. They have already found that the same genes which were previously known to correlate with fluid intelligence, also have a correlation with academic achievement. Now before everyones balls explode and you start ranting, they are not based on particular people. They are measured on hundreds of thousands of people to make the results statistically feasible. So yes, being a hard worker is more important, because a lazy bum wont get a degree anyway, but among two equally hard working people, the one with a higher IQ will perform better.
Here are some links for those who are interested:
Molecular Psychiatry - Genome-wide association studies establish that human intelligence is highly heritable and polygenic
http://dare.ubvu.vu.nl/bitstream/ha...d=F46A80FD47CDCB5DC33D958FB4AB4232?sequence=5
So the research shows that high IQ people don't suffer from cognitive decline as normal people do, they live longer e.t.c. They end up in more professional jobs. The genetics research specifies what functions are better in intelligent people, and most of the candidate genes found are related to synaptic plasticity, short term memory, spatial reasoning e.t.c.
There is even an organization that is trying to make it explicitly concrete, which genes and TO WHICH DEGREE they influence intelligence:
BGI Cognitive Genomics
So what is a high IQ person? It is someone who is faster at reasoning things, memorizing, finding solutions to problems. The easiest area to find this is in maths, the natural sciences, computer science etc. Why? Because in business, martial arts e.t.c. there are many more factors of greater importance, so the relevance is not as high. Does it mean high IQ people suck at those? No, unless they lack the other factors. If they have the other factors, then obviously they would do even better with a higher IQ.