When I was a child before coming into public school at age 11, my learning was centered around myself, nature and spirit.
When I entered the 'real world' at age 11, I was immediately introduced to stress, anxiety and constant fear, much of which was about my self-worth. Along with the change in environment, I myself started to believe the importance of these things like intelligence, likability, and status. I believed them to be real enough that they completely controlled my happiness.
These two worlds I had grown up in were completely different.
If you are living in that world, the one that ego thrives in, then intelligence will play a big part in your 'happiness'. This is because in this world, much of your 'happiness' is based on what you think others think about you. I believe that this self-worth is a much greater influence of a person's happiness than income and ease of living. Most people I have noticed seem to live in this world of ego. So in my opinion, most people's happiness is greatly effected by intelligence.
In the world of love as I call it, you are living from love instead of ego. (This is the only world where happiness isn't given quotations marks from me, as I see this happiness as true happiness.) In this world of love, intelligence has no effect on a person's true happiness.
So in my opinion, intelligence has a great effect and no effect on happiness. Depending less on where you live in the world, and more on what world lives in you.