You cannot call Smith a miss at this point. He had a disappointing first season over the course of a contract that runs 4 years. He might bust here, but based on his play on TEN I'm willing to give him the benefit of the doubt. Going a step further, by all accounts he is a genuinely good guy, hard worker, high character, and never mentally checked out this season despite the lack of targets and involvement. I'm cautiously optimistic he will come around and produce more in future seasons.
Who are the "missed on both LBs" you are referencing? Having a hard time figuring out who those two are, since there wasn't a big investment made at the position recently, in either FA or the draft (unless you count Judon, who is more of a true EDGE, and he certainly was not a "miss").