What makes a “smart” cover is debatable. I think “smart” means its very practical and takes advantage of emerging technologies. In that case, Logitech’s keyboard cover for the iPad might the smartest of them all — at least at the moment.
Logitech promotes the keyboard cover as “ultra-thin.” Since Microsoft’s Surface keyboard cover was announced Logitech’s model looks bulky. However, what it looses in dimensions it makes up for in “available now,” clackable chiclet keys, and usability on an iPad 2 or the new iPad.