Are octopuses smart?

Are octopuses smart?: Scientific American: "Octopuses, some 300 species of which inhabit tropical waters around the world, can change colors, squirt out poison, and exert a force greater than their own body weight. But calling the eight-armed cousin of your garden snail 'smart' seems a bit of a stretch. In fact, the animals are part of an elite group of slimy mollusks known as cephalopods that range from giant squid to the shelled nautilus and all have remarkably large 'brains'—at least for creatures sans backbones."