First off, thank you for giving me the opportunity to think about this a little more deeply. I wasn't trying to downplay knowledge and education, nor the difference between the education one receives at Harvard versus Podunk U. I love education and am a big fan of knowledge, and I'm attending a top-tier medical school (and yet I also believe that one gets out of an education what one puts into it, so a good education is available anywhere). I plan to work hard on being in the top quartile on the USMLE. I also want to get into one of the "better" residencies. But it seems as though there's a disproportionate amount of focus on grades and doing well on exams, which aren't necessarily good measures of one's performance as a physician, especially considering the variety of medical specialties. These exams indicate a certain skill set (knowledge and ability to take MCQ), but largely ignore another. Different specialties require different skills, so even though one specialty is more selective based on USMLE scores, it doesn't necessarily select for the skills that are required during the practice of that branch of medicine. Oftentimes, the more selective specialties are the higher-paying (and thus more popular) ones, rather than the ones demanding higher knowledge of clinical science. I think that's what I mean to say.
What I think makes a better physician is the ability to synthesize information, see past the layers of extraneous information the patient presents with to get at the salient factors, the ability to communicate clearly with them and really hear what it is their symptoms are saying, then turn this into a clear picture of the problem, come up with a reasonable and realistic treatment plan and communicate that plan to the team of caregivers as well as the patient. And do this all with an air of authority, yet compassion for the patient. To treat this patient as though they were her or his grandma, and give them the utmost attention and care possible. To be absolutely vigilant in their search for the disease and a perfectionist in their performance of effecting a cure, no matter the specialty. To know the limits of their own knowledge and ability and know where to refer to. A physician who would inspire such confidence in the patient that they'd believe they were already half-cured. Maybe I've just been reading too much Gawande.
Perhaps they teach these things better at Harvard. Perhaps that's what the USMLE is really testing. A recent study at UCSF found a stronger correlation for medical board disciplinary action with unprofessional behavior at medical school than lower exam scores, though:
http://content.nejm.org/cgi/content/short/353/25/2673