agree with most of your sentiments. HSW is great, the best schools out there, but seriously not much better than any other top school. The students there, while very smart, aren't smarter or better than other kids from other schools. I know this for a fact, I know so many HSW folks I can't even count.
The HSW people, well they are just like you and me, maybe a little more prepared. For example, they're like "i might apply to bschool in 2 years, so let me join some organizations and get positions, etc" whereas most working people wouldn't bother with any outside of work activities. They're the ones when in college were like "well i wanna get into harvard in the future, so let me stay in and study my ass off for this final instead of going out with friends, so I can get a high GPA" while for most folks like me, I didn't even plan on going back to school so I was like fuk it, i'm gonna party and have fun.
THAT'S ABOUT IT. REALLY.
They do SEEM more successful/richer, since the HSW network and brand-name will carry them more. But they're really not any smarter or better, just slighly more prepared, and a lot more lucky. Seriously, a lot of it has to do with luck. It's a well known fact that 80% (or some such) of applicants to H/S actually qualify for the school, they just can't take everyone. They accept around 10%, but it could've easily been any of the other 70% depending on a number of insignicant things (such as diversity, etc) that have nothing to do with an applicant's quality.
Another example. I know a lot of HSW kids who went to real **** undergrads (maybe minority compared to IVY undergrads, but still significant) that I wouldn't even name. IF they didn't go to grad school you wouldn't think they're smart at all. You might even think they're dumb cuz their undergrad school is so ****. But somehow they pulled off a great application (kudos to them) and get into HSW for bschool. Now all of a sudden they're geniuses? No way.