I love it, and I'm in upstate NY. It's great for those hot days when you want to air out the car, or what not. Of course, the rag top was one of the top 3 reasons I bought the smart to start with, so...
I think it also depends in part on how you plan to use it. Do you have a garage? Will you be parking it outside a lot? If so, a hard top is probably the way to go. But if you have a place to park it thats covered, I'd go for the cabrio.
