That said, I no longer play Smith Morra against strong opponents or in long games. For blitz, it is fun to play and scores pretty well.
I don't understand that. I always have to take more time to figure out the proper way to attack in such a complicated opening. I play the SMG much better in slow games than in blitz. But I also play any opening much better in slow play than blitz. My ICC blitz rating is 600 points below my standard rating on the same server.
That said, I almost always start with 1. e4 as white, and the Smith-Morra is the only thing I know how to play against the Sicilian, so I always play it. In fact, I'm downright happy whenever I see the Sicilian, because I know I get to play my gambit.
Fair enough, those little things together might give white decent compensation, though it still seems inferior to the open for sure.