The "racial differences" for athletic ability are also incredibly over rated. You take anyone and start them on a program of wind sprints from the age of 4 and they are going to do better than the average couch potato. So if we try and factor out "given the same situation" then there is a minor difference -- we have only factored for the "rate of improvement given certain inputs." We don't know what "peak ability is" because most of us don't ever approach our peak.
If I'd stayed a book worm recluse like I was when I was ten, and I saw the only value in this world as "being smart", I'd be very, very educated as far as books are concerned.
It's not that we can't find a CLEAR difference with tests, but there are so many cultural differences that make the difference on athletic performance and intelligence it makes the other points moot. A few studies with adoption notwithstanding.
The genetics between humans other than a few aboriginal groups, is so minor as to be inconsequential. It's not like we are talking about Poodles and Retrievers. It's exactly like "all humans are poodles" and we are arguing superiority based on hair style.
One day our kids will be learning twice as much as they do today. New techniques and possibly modifications will be employed. Any on of the kids from 200 years in the future would put people today in the dust. So maybe we need to find better educational techniques based on culture, and let kids gravitate towards what works best.
The main problem I have with these IQ debates is; we don't cover all forms of intelligence, and we use the results as excuses to not do our best. I think that's why some people are so "PC" about the issue -- because every group "on top" in human history has tried to make arguments for why the people on top are naturally superior.
For instance; The royalty probably had higher IQ's than the average peasantry in medieval Europe and likely because of diet.
Some poles used to do IQ tests before people could vote, and the questions were entirely designed to be easy for a caucasian.
There is a difference, but I don't think people should be surpassed that others get upset, or that people call make valid points of larger differences in opportunity, and more recent "environmental history." What we think is "genetic IQ" may more likely be adaptive genes which can change one generation to the next. For instance, if your parents were weight lifters -- you might be better at lifting weights as certain genes are turned on. I expect we will see a lot more real science backing up the notion that humans and other animals that have to adapt to wildly changing conditions, can have massive changes in genetics based on recent family history.