i love smiley smile, but i can certainly see why some people don't. i think it's very understated, and of course far removed from pet sounds (and i'm sure at least a little bit of a disappointment for those expecting SMiLE). nevertheless, i find it to be a very charming record. i like the stripped down, unfinished feel of it. when i first heard it i was fascinated. this probably sounds stupid, but it really made me appreciate the beach boys vocal harmonies more than ever. until i heard smiley smile all i'd listened to was pet sounds and friends/20/20 - but on smiley smile, many of the songs are just vocals accompanied by one or two instruments and they basically hold the songs together. maybe this doesn't make sense, i don't know.
the only song on smiley smile i can't listen to all the way through is 'wind chimes'. i actually really like the style of it, but it's just a bit too out of tune/'experimental' for me (not forgetting the evil/scary chord in the middle of it that makes me jump out of my skin every time i hear it).