One of the more valuable things you can learn as a smart kid in college is that you're not the smartest kid around. It also means that they're being challenged at the school. There's plenty of schools that are hard to get in, but there's no challenge after you're in.
Besides, I don't know about you, but I can't stand people that think (or pretend) they're heads and shoulders above in ability when they're not.
http://tech.mit.edu/V132/N59/pressure/breakdown/year/index.h...