Bones, you almost see what everyone is saying. I was with you right up to the last paragraph. I completely agree that the physical talent side of the equation is the most critical. Understanding the game can make up for some of that. How much it can cover depends on how outclassed you are physically.Fine....you take your high basketball IQ players with less athleticism and I'll play against you with my lower basketball IQ but better basketball/athletic skills and I'll win 8 out of 10 times.
Over the course of time, it's not about the X's and the O's, it's about the Jimmys and the Joes.
But the x, o, jimmy, Joe comment is another subject altogether. It refer's to the talent (both physical and mental) being more important than the plays the coach wants them to run.