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i'm not a fan of the term 'smart pages' but it's defenetly good for google to have title, keywords and description set in your pages. wether it's template-driven or not.
i just setted up a page in the beginning of this year with such a technique and the results are overwhelming. i haven't made an analysis of the driven traffic in detail, but the search results on google are impressive and very specific. it's a page with articles and news, and it's very well indexed.
my results can be very specific because the articles are very specific. so i can't tell you what's going on in a page where much more keywords specific things are needed.