6 WRs: Sammy, Percy, Woods, Harvin, Goodwin and Easley (you missed Harvin). I wouldn't bump any of those guys for Smith, and I don't think we have the luxury of carrying 7 WRs.
I liked Smith getting first downs out of the wildcat; that really helped the team. BUT, he could not throw to save his life. I don't think he's viable or valuable enough to carry, even for veteran minimum.
I appreciate his versatility, but think we have better candidates at each of those positions.