With LLMs, you're still mostly read things "off the tip of the tongue". A better comparison is observing a smart person talking to themselves while working on a tough problem.
EDIT: also there's a reason the dial is called "effort", not "smarts".
Yes, but that should apply to the CoT "thinking", not the final output.
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I don't think smart people generally solve problems by talking through reasoning steps at a mile a minute. They clear their mind and let the solution come.
Of course I don't know if there's really a way for this to be molded in current LLM's (sounds more like diffusion)