3M is what veteran third liners get paid.
Look at Beleskey for an example of the type of contract Smith could have gotten if he were willing to hit the open market as a mercenary.
He's not playing fantastic, but he's still got a similar point per game total to Dzingel, JGP, and Pyatt to put him firmly in that second tier of scorers. I thought Smith showed a bit of chemistry with Duchene when they were placed together.
I wouldn't be against trading high on him, but I'm guessing I am not as down on him as some in this thread. The argument for trading him is that he'll be 30 years old at the start of next season with 3 years remaining on his deal. While having a player signed until 33 isn't alarming, Smith plays a style that sometimes leads to players declining earlier. While 3.25M is ballpark for a veteran 3LW/C, as a budget team it helps to be more risk adverse with the contracts we keep on the books.
The pros for keeping him, he took a hometown discount to stay here and that should be rewarded, there isn't a big enough sample size to dictate that his play has dropped off. Yeah, he's not a 25 goal scorer, but nobody sane should have expected that, and he wasn't paid to be that. For the most part, everybody has looked bad for the last dozen games prior to the start of this win streak. He also apparently is a big part of the leadership core and we've already lost Methot, Neil, and Kelly as vets in the room last year.