I saw them at the Auto Show last Feb. http://www.flickr.com/search/?w=79476372%40N00&q=smart&m=text I was impressed by how much space is fit into the package. I don't remember what the price started at, but yeah, the mileage isn't much better than other cars. Reviews I've read said the highway driving experience was frightening. Maybe a good second car for only around-town driving? Edit: Interesting thing is it's Rear-Wheel drive, with the engine under the floor in the back.
My higher mileage hopes are on the Kinetic Energy Recovery Systems the Formula 1 race teams are developing for next season. They're supposed to store kinetic energy into a flywheel or battery.
For the years when I've regretted buying a boring car, I'm now happy I bought a Corolla.