What's in a phrase?
In our quest for the meaning of IQ, let's leave aside the multiple-intelligences argument for now. That's the recent theory that says there are eight to ten--and maybe more--types of intelligence. And it makes the term "smart" even more ambiguous.
If the concept of "smart" is hard to nail down, "smarter" at least makes intuitive sense. No matter how you define intelligence, some people surely have more of it than others.
And if "smarter" makes sense, then it must be possible, at least theoretically, to measure "exactly how much smarter."
But when you start talking about "exactly how much smarter," you rely, I think, on a certain underlying image of intelligence and intelligence testing.