This all depends on the context of course. I get as irritated with babbling as anyone else, but there are situations where I don't mind sitting down with a group of people and listening to everyone think out loud--that's a messy process, but many intelligent people aren't always able to immediately articulate what they're getting at.
If there's a single answer to a problem, you want someone to get to the point and explain it. If you're in a group thats trying to tackle a new problem with no pre-set solution, it's often revealing and useful to listen to each (intelligent) person try to make sense of it in his own way. Of course that's still not a pass for people that want an excuse to be pedantic (or worse yet, to relate every single angle of a discussion to some tangential personal anecdote), or the folks who don't think at all before they speak.
Maybe it's just me, but when someone smarter than me cuts straight to a clean solution, I miss out a bit on seeing how they arrived at it and learning from them.