It's a package management tool, much like urpmi, apt, etc., which is able to read from a wide variety of package repositories (apt-deb, apt-rpm, dpkg local db, rpm local db, red-carpet, directories containing a bunch of rpms, urpmi repositories, slackware repositories, and others), solve dependencies and install or upgrade what's requested. Apparently it uses a smart (:)) algorithm; the author gives some cases where apt or yum are fooled, but not smart. (I must say that urpmi's dep-solving algorithm behaves better than apt or yum in some of those cases.) smart seems to be fast as well, but this may depend on the type of the repository used. (I don't see how a software that uses a yum-like repository could be fast.)
I produced an rpm of it for Mandrakelinux and uploaded it to Cooker. Unfortunately I wasn't able to get the GUI working, probably something with the qt-python bindings. The screenshots look nice, though.
Looks like great work, even if it's still in alpha state and lacks docs.