I was at the gym yesterday and this fat roided up permabulker shows up. He is about to start his first exercise on the cable row machine as I am about to start on the lat pull down machine after already having done deadlifts, pull ups, and cable rows. I am sweaty as hell and have been working out hard he obviously isn't as he is just about to start. We both finish our first sets at about the same time. Then I go on to do 3 more sets waiting a full minute between each set before he does his second set. In that whole time between his first and second set he was sucking wind. It was pathetic. Takes him 4-5 minutes between a set not even to failure to catch his breath.
There is definitely a difference between being in shape (and looking good with muscles) and being in "shape" (where you can actually do activities without getting incredibly winded)