Check out the nice review of SMART Utility on macworld.com.
The author does a fair job of reviewing the app, showing the positives and negatives of the app as well as SMART in general.
One note however. At the end he states:
Unfortunately, whereas SMARTReporter can run in the background, with or without a menu-bar icon, SMART Utility is a standard Mac program, which means it appears in the Dock whenever it’s running; I’d have preferred an approach similar to that of SMARTReporter. I’d also like to see additional alert options, similar to those provided by SMARTReporter; for example, e-mail alerts and the capability to launch an application or run an AppleScript. But SMART Utility’s additional drive details could make it more useful than SMARTReporter for many people.
Version 3.0 of SMART Utility (in development now) will have the ability to run in the background as a menu bar icon, and will support additional notifications, such as email and launching an application.