I own a 1962 Mini 850, and a 1966 Mini Cooper 1275S. It will be some time before I own my smart, due to late reservation, but I recently test-drove a new 2008 smart. I found the driving experience very different than that of either Mini—and that is the accomplishment of the smart: a “luxury†micro-car. I like Spartan vintage micro and mini cars (and their driving qualities), and did not look to the smart as a replication of those.
There have been many complaints about the fuel consumption of the 2008 smarts, but I see the compromise between fuel economy and performance as just about ideal, given the aim of the smart design. My 850cc Mini will get 50MPG and can cruise at its top speed of about 80MPH, but most American drivers would find its acceleration inadequate. On the other hand, the race-modified 1275S is very fast, with 25 – 30 MPG, or less, depending upon how hard it is driven. The smart does not really have the handling ability to justify the high power and lower mileage ratio of a fast original Mini Cooper S, but it needs better acceleration than an original 850 Mini (or an Isetta, for that matter) to be successful in the U.S. And, as much as I hope to get my smart (I am, alas, a 1482) before the model year changes from 2008 to 2009, I hope even more that the smart will be a success in America.