Not really. You said it doesn't test intelligence. I said it doesn't test knowledge. Knowledge =/= intelligence. It does test you on a form of intelligence.
Also, you said it tests you on your potential, which is along the lines of what I restated, but you also said "the ABILITY you COULD have." When actually, it also shows the ability you DO have, as you must analyze the data and show your ability to learn by providing the correct answer.
But mainly I replied because your spark notes stated "High IQ doesn't mean you're automatically smart."
This really depends on what kind of "smart" you are measuring.
I did read your entire post.