If Orlando really wants Smart, their GM would be wise to offer up the 4th pick to a team looking to get Exum and slide a little to where they can still get Smart. Pick up an extra asset while still getting the player they really want.
For example, they could trade with either the C's or Lakers since Smart will probably still be there at either 6 or 7. Maybe get an extra future pick from the C's or the Lakers in addition to their first this year. At this point, I'm wondering how much better Exum really would be over Smart-->enough to cough up a future first to move up 2 spots? I'm not so sure anymore. Unless, Exum becomes the prime piece in a Love trade and as a result, cuts the amount of other assets we'd have to include in the deal.