Agreed, I think he was lucky not to get a straight red for his first offence. I think Smith has grown up a lot over the last 12 months, but he obviously has some way to go yet.
As for Beckham, how you can't have him in the team is beyond me. Agreed, his all round game isn't perfect, but I can't think of anyone else in the team at the moment, or in the near future, whose commitment matches his.
I would cast a vote for Jermaine Pennant to break into the team (or at least the squad) within the next 12-18 months. The guy is quality, and is only kept out of the Arsenal team by Ljunberg/Pires/Wiltord.
Finally, I'll get me flame-proofs on for this, but the same goes for a certain Francis Jeffers. He's scoring bagfuls at the moment for Arsenal reserves and England U-21's. The guy is still only young, but I believe he has a great future given time. Like Pennant, he is being kept out by established world-class starts (Henry, Bergkamp). His time will come.
And yes, I am a Gooner