People who smoke large amounts of weed are pretty dumb.
I think that's a stereotype and people in general are pretty dumb. Dumb people that smoke a lot of weed are still going to be dumb.
Some of the smartest people I know are huge potheads. I'm talking true intellectuals with a ravenous appetite for knowledge. Programmers, entrepreneurs, lawyers, some of the guys on this forum, etc.
"Couch lock" is a great term and so true. But getting locked onto anything on weed is possible. For some it can provide intense focus. One of the smartest programmers I know will get baked and locked in the zone and churn out hours of code. I used it to power through large homework assignments until the wee hours.
I used to smoke a lot and short term memory issues are a bit of a problem, but this isn't frying your brain. It's a short term issue that goes away if you stop being stoned all the time.
Do pot smokers typically suffer from more respiratory ailments? Yeah, probably because smoking anything isn't good for your throat and lungs.
Generally if you abuse anything excessively it's going to be bad for you. Weed isn't without its problems and moderation, like with everything else in life, is key.