After 85,000 miles (and a new tranny, clutch, pressure plate, hydraulic pump, and clutch position sensor), I've had a lot of experience.
The SMG is brilliant at speed. Nothing better on the track or when you really want to have fun on the roads. It's fine for driving around town.
SMG absolutely sucks at very low speeds or from a stop. I've spun the rear tires countless times backing up and switching into gear. Even though I routinely downshift into first whenever coming to a stop, the tranny is still rough, and occasionally I'll leave it in second as I'm slowing and it will 'autoshift' into first right when I hit the gas - WHAM!. This is clearly a 'stopgap' transmission that bridges the gap between the manual and a truly well functioning DSG that gives you the 'best of both worlds". The fact that BMW won't continue this tranny says it all.
All said, I still love the tranny, and wouldn't switch to a manual in this car for anything. The ability to downshift from 7th to 3rd witha few flicks of the paddle, the perfectly matching downshifts, and the brutality of the S6 shifts are addictive. My next track car will almost certainly be a DSG/PDK tranny. Not sure about the drive around town car though...