strategic people are wise/smart people, there are lots of kinds of intelligence that make a man smart. But if you compare people who live by the book or should i say those people who typically good in class but sucks in real life against those people who are smart enough to outsmart people in real situation, i choose those strategic ones than those who attain their knowledge solely in school
I don't really see what you mean by the people that "live by the book"
Anyway, I can't call such people either smart or strategic. Being smart or strategic means living by your own mind, wisdom, and experience (at least, most of the time), but book worms are neither. This doesn't mean, though, that strategic people neglect the wisdom which some (but certainly not all) books contain, this just means they give preference to real life experiences. Knowledge which can be found in books is typically not suitable for direct application unless we are talking about technical manuals, of course (but even in that case "your mileage may vary")