Dude, this is my first post on the board (I only found this forum a short while ago), but I can sympathize with you. Currently, I've graduated college, but I still clearly remember my highschool experience. I too was the "smart kid" and I was even voted "most likely to succeed" my senior year, a title everyone to took to mean "the smartest". I definately have to say that you've been given VERY solid advice.
However, where we differ is in the fact that I turned myself into someone popular. I can never really say that I was ridiculed for being smart, though I do know that affected the way people viewed me. I had never been non-social, but I eventually came to the realization that my social skills were not as good as they should have been, and I have a hard time admitting shortcomings (it was tough). So I made a plan. I completely loosened up, I put myself out there, joined clubs, ran for offices, and got to know everyone whether it be at parties, sports functions, etc. It was tough at first, but it became almost liberating. I finally felt comfortable being myself around people, and amazingly people were very cool/accepting of the real me, not to mention I was elected to all the positions I ran for over several of the long-term popular kids. Everyone can recognize a try-hard, and very few actually respect/like those types.
Yes, their taunts are due to jelousy. Everyone has their likes and dislikes, and the one thing that people as a whole hate is feeling inferior on an intellectual level. Why's that you ask. People can't "explain away" being dumber than others. If a person is inferior at say basketball, they can justify it with "I'm not tall enough" or "I'm just not into athletics". However, it hurts on a very personal level to admit that you're not that smart, and true intelligence cannot be learned or taught. These popular guys that seem proud of their bad grades wouldn't be so understanding if you began to make fun of them for it.
Also, look into how you dress. Oftentimes, "nerds" aren't actually nerds, they just don't know how to dress or present themselves to others. Take the show "Beauty and the Geek" for example. The first thing that tips you off about the guys is how they dress and act. They dress like their mom picked out their clothes, and they're unbelievably meek around the girls. Then notice how the girls perception of them changes after the geeks get their makeovers! While I'm not saying you dress bad or act like a chump, which I have a feeling you don't, just look into it and be honest with yourself.
Finally, we come to socializing. Like others have said, communication can very easily be learned. LostandConfused gave you golden advice, so definately take heed. Not sure who used the math comparison, but communication is very much like math. Each use formulas. While it may seem intimidating at first, once one begins to understand the formula and how the different variables interact and behave it becomes practically second-nature. My biggest problem with my communication skills, before I fixed them, was that I came off as patronizing or like I was rubbing my intelligence in peoples faces when I talked to them (refer back to my inferiority rant). It was tough to admit, but many friends confirmed my suspicions when I asked them. After I changed that I noticed probably the biggest change in my social life that I ever have.
As for the people giving you advice to throw things in peoples face like "Well one day I'll be your future boss" (and things of that nature).... absolutely DO NOT. If you want to change your social standing you're going to need more friends (social proof). Saying things like that would just be the equivalent of shooting yourself in the foot because it would do nothing but make enemies. There's a fine line between being witty and able to hold your own and being a douche. It's kind of like the ****y&funny stuff, which most seem to take too far and end up acting like an ass (I'm still very guilty of this).
Anyway, I'm starting to lose focus so I'll stop. I hope this helps. Just remember, people will treat you the way you allow them to treat you. If you can't turn things around, you always have college and you can completely reinvent yourself there. However, I think that won't be a problem for you.