My anecdote matches yours. In highschool I was one of the higher-ranked people in my class, but I got along better with guys on the lower-end of the scale. Despite getting terrible grades, they often had a surprisingly quick wit that made them a pleasure to be around. Probably because they cared more about being funny than getting good grades. I sometimes wonder if it was motivation more than actual capacity that made the difference.
My anecdote conflicts. I found that being in an institution, following a learning path, designed for the average child, meant I progressed less than I could and had my potential wasted. Poorly behaved children or those who aren't academically minded will have one teacher each, trying to force them to climb that academic tree, while high-potential children will be left to rot and told off for wanting to do more.