Mike, thanks for adding to the discussion!  I totally agree with what you're saying.  I, too, have witnessed (and been negatively affected) by people who were in positions that they simply couldn't handle.

Indeed, experience and skill are critical components of leadership too!!  I couldn't agree more!

That said, I think there are some exceptionally creative, talented and smart people that are also leaders and may not ever even have the desire to be a CEO or military leader.  I still think they can be a leader, though, and have a tremendous impact from a mid or even lower-level position.

Knowing you, I'm going to guess that you wouldn't disagree with the above point (although feel free to, if I'm wrong.)  I don't think that age, title or direct reports has anything to do with leadership.  I do agree that experience, knowledge and skill are needed to be successful.  These can certainly be gained (and shared) without direct reports, though!!!