SS. .I've used all three systems:
Smart Media - had two cards fail in first digital camera. Seem pretty flimsy to me
CF used in a Psion. No problems
Memory Stick. Can be expensive but prices dropping. 128 Mb is 82US $ here in Hong Kong. Used for two years with no problems. Sony main user but I believe other companies are licensing. Higher market penetration here (25%) than elsewhere. Two types - Magicgate has protection for audio copying but normal Mem sticks can be used for anything - audio , video, you name it.
As ORAC said - pick the camera you want and use either CF or MS. I would avoid Smart Media.