The LSAT Score is a Joke, and I am not laughing.

[delusional]

I agree with OP's sentiment, but disagree with his overall argument.

The best anecdotal example I can give is this: let's say theoretically everyone is given 2x the amount of time on every section, I'll bet a good chunk of cash that most people start scoring 10+ points better (if not near perfect). But in the real world, if you're given an assignment, it's hardly ever on 35 minute intervals. I mean it's rare that you're going to stop reading for your homework in law school because you've maxed out some pre-determined effort limit. So I have trouble seeing how LSAT translates into law school performance.

Well, law school exams are similar in terms of the time constraint. Your real issue is how law school exams correlate with law practice.

Not really, because all else being equal intelligence is an advantage no matter what the field is. There will definitely be a positive correlation, the question is how important it is or should be.