dane007 said:
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SMAA is post-process filter, so it's pretty light on resources while giving great results. SMAA does have some slight blur though, and while MSAA is better at smoothing actual geometry, it does have a problem of its own (or at least that's how it used to be, haven't been following closely AA techniques for some time now):
Hopefully, someone with more knowledge will chime in (like Tachikoma) and give more thorough (and up to date) explanation(s).
EDIT: Here's a quite good article on FXAA, SMAA, MSAA and TXAA with pictures from Crysis 3 and benchmark comparison.
http://www.tweakguides.com/Crysis3_6.html