Just (FINALLY) listened to the box set in its entirety...so many thoughts. Many gripes, but such is the rather subjective nature of SMiLE...
Regarding GV, I'm sure it's discussed elsewhere, but can someone fill me in on why the Hum-Be-Dums were left out of the original single? (In a similar vein, the same question goes for the God Only Knows acapella tag...) They (Hum-Be-Dums) are absolutely my favorite part of the song, really wish they'd included them on the original release.
Another thing: I started with GV disc years back (bought the set when it came out) and really didn't dig that disc...the big takeaway I got from it was that early versions of GV were inspired by (and essentially the same melody as) 'The Boy From New York City'... (I also love to make connections between Brian's songs and their original roots, I will have to start a thread sometime)
And totally agree with the comments that the discs could have been fleshed out with other sessions instead of GV. Like, when I listened to the Vega-Tables takes, I was disappointed and yearning for so much more, ie the SoT/Unsurpassed Masters. (Actually, the whole box set felt incomplete and too short for my liking-- I'm a completist, so I really wish they'd just released everything that was recorded during that time.)