The smartlabels feature essentially focuses on "bacn, " that brand of e-mail that people subscribe to and generally want to read -- but don't have time for right now.
The Gmail feature called "smart labels, " which now is available for users who choose to switch on the feature through the Gmail Labs page, automatically sorts e-mail into groups to make it easier -- and hopefully less stressful -- for to users to manage their overflowing inboxes.