Looking at the comments this is apparently leaning towards being more of an explicitly American thing, at least the experience of it that Bob is describing.
Generationally I'm not sure where I stand compared to the rest of you, 1987 onwards, but my experience has been... well the following. In public school, and mostly between the age of 10-16, I was one of a very small group of people who I would describe as nerdy. We played trading card games, gameboys and I was the token tabletop RPG nut. Most people didn't mind us and we mostly didn't mind them, what bullying may have occurred had nothing to do with my hobbies as I was a 270lbs kid and there was plenty more to say about that than there was about something like Pokemon which few of them would have known much about anyway. I developed a decently thick skin and learned to mock back just as hard but some of it may have gotten to me, the one time it got out of hand I kept telling myself that I'll "do something about it" a good few times until eventually I hit the guy and we flailed wildly trying to hit each other for about two minutes before some teachers pulled us apart. They then did a much better job at beating the shit out of us for starting a fight but that is neither here nor there.
"Geeks" or "nerds" weren't marginalised, mostly because I think from a purely cultural point of view no one cared. I didn't feel victimised, mostly because I didn't choose to as I didn't feel the need to actually care what some other kid thought about me. Did I like it? No, but no one does. I don't see how people think that being stuck in a confined space with about a hundred other random people your age with potentially very little in common was ever going to work out to be sunshine and happiness. That was an all boys school run by a combination of underpaid teachers and monks too, hardly a beacon of social reform.
Moving away from the school image for a moment, geek culture here (Ireland) seems to be a completely different beast. It is only racially homogeneous because... Ireland, it is certainly not biased towards one gender or the other. Sure there are a few ignorant twats who would do the "catcall" thing, but you get those in every group. I was at a con just a week ago where I sat down, in a room filled with tabletop/MTG/Halo/whatever else nerds, and at least half the room was female. There were people of all ages, I ran a Dragon Age RPG game with a bunch of 40+ people from Germany, and the con was even getting slightly more racially diverse. But again, Ireland.
I honestly don't see how my school experience was bad, outright at least. I know people who'd fit the "jock" description and came away from school far more damaged than I could rightly imagine.
tl;dr: "Geek privilege" may be broadly the result of a specific experience, exclusive to certain social systems. But it certainly isn't a phrase which encompasses the "geek culture" as a whole.
Scrumpmonkey said:
As a community i think many of us would be VERY quick to distance ourselves from the more 'Euphoric' side of things if you know what i mean.
Could you elaborate?