I grew up in NZ in the 70's/80's, and I'd take Smith as my keeper every time. It may be some of the earlier keepers like Wadsworth or Mooney were better keepers, but having never seen them play I can't really choose them. Smith hardly missed a chance and he scored some pretty handy runs. I agree he's not as good a batsman as McCullum but in a lower order with some or all of Reid/Cairns/Hadlee/Vettori likely to be selected, I'd happily give up 10 runs per innings to have him behind the sticks.
My NZ team :
Second xi :
Fair to say the spin stocks aren't too impressive....