I don't understand the number of complaints about Smart on this blog. The guy is a (just turned) 21-year-old rookie. His greatest concern coming into the league was distance shooting, and he's put in a ton of work and gotten much better in a short period of time.
As far as his playmaking, quickness, and ball handling are concerned: I actually think he's already shown he is a willing passer with good vision and smarts. I also agree that he hasn't looked explosive. He is going to the hoop more lately, but not with nearly the same ferocity as he did in college. Part of that is learning the game, and part of that is that he's still probably feeling the after effects of that high ankle sprain, which is something that can linger for a long time.
Increasingly I think a good career comparison may end up to be Chauncey Billups. As some might remember, Billups was a gamer in college but fizzled in his rookie year. Pitino traded him away after something like 40 games. I distinctly remember thinking that he wasn't a playmaker and not an elite ball handler. Yet, look how his career ended up. Billups could never blow by people, but he became a tough as nails, strong, heady PG who could take and make big shots. That's kind of what I see Smart developing into, except that Smart has a better wingspan and is a much more terrifying defender, and probably will eventually prove more adept at finishing at the rim.
Until then, patience.