For me, it's all about the best player available (BPA) that fills a need for your team. The only exception is QB because the NFL is a QB driven league and you need one to win it all. There are a few exceptions like when you have a dominating defense like Denver did.
Summary: Jimmy Smith is going to gain momentum as the draft draws closer. Playing at Colorado on a losing team did not give him the chance to showcase his skills on the national stage in big games like Patrick Peterson (LSU) and Prince Amukamara (Nebraska). However, he has the size and speed combination to open eyes during the rest of the evaluation process. His physical style lends itself to man coverage, and while he is not going to knock anyone out with a bit hit, he is a feisty tackler. He is also useful in run support. If the Raiders had a first-round pick they would be jumping all over him.
Player Comparison: Nnamdi Asomugha. It is tough to tag a player with this comparison, but at Colorado opponents always looked in the other direction instead of throwing at Jimmy Smith, which is how it is in the NFL with Asomugha. Coming into the NFL Draft, Asomugha was actually a free safety out of California, but he had similar height/weight/speed numbers.