This is my second Smith helmet. I needed to replace the previous one that I've had for many years when I discovered a small crack forming in the inner Styrofoam shell, the helmet was old enough that I really can't complain. I liked my old helmet but this is an improvement on it, better fit and more comfortable to wear. I like the Koroyd construction because it allows air flow but prevents direct sunlight through the vents and giving my bald head a vent patterned sunburn!
This lid fits me well; sizing appears to be accurate. There's not much padding but that doesn't seem to matter, as the helmet feels comfortable during rides. It's not the lightest helmet out there (I have a Limas that claims to be), but it also doesn't feel too heavy while riding. The MIPS is definitely nice to have. Ventilation isn't the greatest, so for summer rides I use other helmets like a Giro Aether -- which ventilates so well it's a bit too cold for off-season use. In cold weather I prefer the Trace because I can get away with a thinner skull cap. I usually rinse my helmet after each ride, and the Trace takes quite a while to dry out afterwards because water gathers in the Koroyd cells. Those cells completely cover all the vents, so if you use a helmet cam or helmet light you'll need to look elsewhere. If style is a concern note that the "matte neon yellow" (called "limon" on my lid, which is from a previous year) isn't the fluoro yellow used on other cycling products. Calling it "neon" is definitely a stretch; I would describe it as about midway between a true neon yellow and a pastel yellow.
My Smith Overtake MIPS gave up its life for me. The Smith Trace MIPS is the replacement. There is quite a bit of redesigning between the the two helmets. The new helmet does a better job holding sunglasses and has better air passthrough due to it being more open in the front.
Smith helmets fit my head well. Comfortable straps. The Trace is a better helmet than the Overtake and the Overtake was a great helmet.