Depends on your outlook on life; Its intended to suggest intellectual superiority but to me indicates total lack of understanding or empathy for your fellow man.
Thanks all for your answers, interesting divide in opinions.
Another common phrase that I think is ambiguous is 'I could swing for him'. For years I thought it meant that I would willingly punch a person because he had done something to wrong me or mine but apparently it means that I am willing to kill him and hang for it.
I think it's neither and is actually just plain obvious... who in the world opens their arms up while glorifying 'oh good, yet another idiot to deal with!'
I may well be someone who it is said does not suffer fools gladly; it does not offend me.
I was not aware that it had its origin in the Bible, where Paul was having a go at the inhabitants of Corinth in favour or some supposed "false" apostles.