I think that philosophy is an end in itself, an enjoyment, and not a guide for taking action.
That being said, I am by nature a philosopher, but for around 15 years now I have created the self-discipline to make myself into an opportunist. It took a long time for me to learn to take action and become a doer and not just a thinker, but now I am in the habit I do it all the time. That isn't to say that I don't enjoy some good philosophizing and debate with friends as an enjoyable activity. I am just living my life much more proactively now than ever before.

And although I don't think book smarts and street smarts are incompatible, the former can lead one to not learning the latter, mostly by undervaluing it. I was raised to be booksmart and excel in school that didn't do me one bit of good when I was given the chance to enter the business world. Luckily I had other qualities I hadn't realized I had and was able to take advantage of the opportunity.