Some high IQ folks do very dumb things. So much for tests. Don't we each have our own standards of what constitutes INTELLIGENCE?

Quite possibly. Conventional intelligence tests really only indicate problem-solving ability, not the ability to think ahead or plan.

There's a difference between intelligence and wisdom.
Intelligence is potential.
Wisdom comes with experience/observation.  (well, it's supposed to)

Intelligence says someone should be smart enough not to stick their hand in a fire.
Wisdom shows someone knows not to do so.  

The conventional IQ test is somewhat artificial, and as Walt shows by contrasting intelligence with wisdom, does not really reflect real-life behaviour.

Being intelligent does usually mean being capable of logical thought, but that in practice logic can be heavily influenced by situation, physical state and emotion. To take a simple example, you are less likely to make the best decision when faced with some unexpected problem, if you are very tired.

A friend who is a medical lecturer admitted she does not know much adult-level IQ tests as it's not her area; but said they are more likely to investigate qualities like creativity and lateral thinking ability, than the puzzle-tests most of remember from school days, designed to estimate learning ability.