I've taken 3 separate standardized tests and gotten results that would get me admission (although not necessarily free-ride tuition) at any college I want, up through the most hoity of the toity Ivy League schools.
Statistically speaking, if you put me in the same room as about 600 other people, then I'm probably the smartest person in the room.
On the other hand, I'm a "put up or shut up" kind of guy. I'm still stuck doing relatively menial work getting through sophomore-level classes and paying for college with a job programming in PHP of all fucking things, but given some time I might be able to piece together the ideas I come up with in my free time now and do something relatively epic (although, unfortunately, I'll feel kinda unoriginal doing it).
EDIT: Also, I echo the "standardized tests are crap" sentiments in this thread. I study math, so I know the meaning of "probably," and I have definitely found myself in situations where I wasn't the smartest person in the room.