Might help to think of basketball IQ in terms if intincts. All the truly great players instinctively know when to do something and when not to, how to do something and how not to, where and where not to etc.. That's what people mean when they say someone has a "feel" for the game. They make the right plays at the right time in a variety of ways (passing, shooting etc.).
Looking at someone like LeBron.... Woah hold the phone! Van Gundy just said Sacramento are his new favourite team to watch, fascinating, talented and always look like they're about to implode. We have players if they can just gel. Fascinating to watch us evolve.
Anywho... Looking at someone like LeBron. He's not just an incredible player because of his freak athleticism and and tangible skills. But his IQ on the court is extremely high. An example which happened earlier in this game against Brooklyn: Had the ball on the perimeter, faked a 3 and got his defender in the air, went to shoot to try to draw the foul but the defender avoided him, before releasing the ball he fired a pass to Rashard Lewis who was near him on the perimeter and immediately made a hard cut to the basket before his defender had even landed. Got the ball back for an easy +1. Just an example, but the vast majority of players in the NBA wouldn't have made that play. Required a series of split second decisions, each of them executed to perfection. That's one example of a high IQ play. He didn't think about it, it was instinct.