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Thanks to the wonder that is Netflix, I've been watching Smallville at a rapid pace. We're in the middle of Season Four right now and overall, it's been pretty good. I've never been a fan of Superman. In fact, I would say at certain times I've outright hated the character. He always seemed too invincible to me and he never really had any villains in the comics that seemed like a threat.
But alas - Smallville is about Clark Kent, not Superman. And that's where its strength lies. Clark wants to be a normal teenager but he is discovering his powers along with the viewer. Over the first four seasons, he's had to figure out how to control his heat vision and super hearing. The series starts off with the meteor shower that brought Clark to Smallville. The story is that the meteorite rocks have special powers, so one week there was a dude with fire powers, one girl could teleport, etc. At times, the show falls into the X-Files / Buffy "Villain of the Week" scenario, but even some of those episodes are good.
The main crux of the series lies with Clark's friendship with Lex Luthor. You can tell that Lex really wants to be a good guy, but something always seems to go wrong. Clark and Lex maintain a friendship (for how many more seasons?) that has its ups and downs so it's really cool to see the bond that's developing between them. I'm very curious to see when that bond will be shattered permanently and they become enemies.
I think the strongest episodes are the ones where there isn't a Kryptonite-inspired villain. The ones where it's just a human out for his own gain by trying to reveal Clark's secret. He won't kill anyone and yet he has to take someone down without resorting to physical means.
Also cool are the times when they introduce elements from the comics - Lois Lane and The Flash have already made appearances, and also a random appearance from Mr. Mxyzptlk. Awesome. It's nice to see John Schneider (from Dukes of Hazzard) in a pretty strong role as Clark's Dad, too. I haven't really read ahead for what's coming in the next few seasons but we're definitely hooked.
Bottom line - some episodes are better than others but overall a strong show and a great take on the Superman mythos.