It's worth a shot in the 2nd round. We need a franchise QB, and as much as I'd love Johnny Football next year, there's no guarantee we get him. a mid-high second rounder for someone of Smith's skillset is a no-brainer, IMO.
QB is a position of dire need, and this move would be both liquid and high-value.
At the very least, he can't possibly be worse than Mark Sanchez. Right?!