I must have missed this story from August 10th which answers a lot of questions:
Holmes' application reveals his grade-point average from the University of California at Riverside was 3.94 on a 4.0 scale, that he was Phi Betta Kappa member and his GRE verbal score  was in the 98th percentile and quantitative score  was in the 94 percentile. His analytical writing score was in the 45 percentile.
I looked at my last GMAT score, which was 740 (the first one was 750, I lost g as I grew older), and I scored 97% verbal and 93% quantitative. So if the GRE percentiles mean the same as the GMAT percentiles, then James Holmes is smart enough to just make the Triple Nine society. His intelligence is in the top 0.1% of the population.
So it’s really just as I suspected. That Holmes was at a crappy college which was way beneath his abilities, and where he was able to get a nearly perfect GPA without having to do any work, and then he wasn’t prepared for a graduate program where actual effort was required and where he couldn't play World of Warcraft all day instead of studying, and that’s why he failed out.
I interpret some new stories as evidence that Holmes drifted through his education without actually doing much studying, which he was able to do at a bogus college like UC Riverside. But he didn’t like doing actual boring work, he preferred playing video games.
It looks like I was 100% right about that.
It’s also easy to see why he was bitter about his career opportunities given how smart he was. Because he went to a crappy college instead of an elite college, he was unable to find any employment except in fast food. Had his parents sent him to a better school, he probably wouldn't have spiraled downhill into beta-male rage.
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In response to certain commenters who think that Holme’s only average score on the writing section indicates some lack of ability, here is from the big article in today’s NY Times:
In a grant-writing class, where students were required to grade each other’s proposals, Mr. Holmes wrote thoughtful and detailed comments, one student recalled, giving each paper he was assigned to review a generous grade.
“This was the only time I saw an assignment of James’s,” the student said. “Frankly, I was very impressed. I thought his comments were much better than anyone else’s.”
As I responded in the comments, he probably didn’t bother to study for the GRE, and the essay section requires you to know the trick of what the graders are looking for.
In that article, you can also read about the girl he liked at the graduate program, but was too shy to do anything about it:
A student with whom Mr. Holmes had flirted clumsily — he once sent her a text message after a class asking “Why are you distracting me with those shorts?” — said that two messages she received from him, one in June and the other in July, were particularly puzzling.
Their electronic exchanges had begun abruptly in February or March, when she was out with stomach flu.
“You still sick, girl?” she remembers Mr. Holmes asking.
“Who is this?” she shot back.
“Jimmy James from neuroscience,” he replied.
After that, she said, he sent her messages sporadically — once he asked her if she would like to go hiking — though he would sometimes walk right past her in the hallway, making no eye contact.
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