Personally, I'd rather work with someone who knows their limits over someone who does a half-assed job (through lack of talent or ability). If only because I'd have to then later clean up said code.
I'll back this up with an anecdote. At a relatively small company I used to work for, the CEO was someone who used to code, some 17 years ago. However, he recently decided that he knows enough about coding to act as the lead developer for that company's flagship product. He then proceeded to drive development into the ground, arguing over the merits of using malloc instead of calloc, globals over locals, and the beauty of goto's.
He successfully runs several multi-million dollar companies, yet his smartest move was stepping back out of the development lead position, and back to that of managing the company.
Did knowing how to code get him where he is today? Ultimately, no. His business savy and contacts did that.