[derekp7]

A few years ago we were interviewing for a position, and one of the candidates was very up front with what the knew / didn't know -- however everything about this candidate showed that they would excel in the skills that were listed. Another candidate matched up with the skills we were looking for, and on paper was very impressive (same with the technical answers in the interview). However this person came off as a bit arrogant and inflexible. So we went with the less qualified, but better personality fit candidate, and that was one of our better hires.

So I can easily see the tables being turned the other way -- a candidate that doesn't have all the skills, but failed to wow us, would lose out to a candidate that better matched the skill set we were looking for.