I suspect the I.Q., SAT, and school grades are tests designed by nerds so they can get high scores in order to call each other intelligent.. Smart and wise people who score low on IQ tests, or patently intellectually defective ones, like the former U.S. President George W. Bush, who score high on them (130), are testing the test and not the reverse.
Studies show that the IQ range of most creative people is surprisingly narrow, around 120 to 130. Higher IQs can perform certain kinds of tasks better--logic, feats of memory, and so on. But if the IQ is much higher or lower than that, the window of creativity closes. Nonetheless, for some reason we believe more is better, so people yearn for tip-top IQs, and that calls for bigger memories. A fast, retentive memory is handy, but no skeleton key for survival.