Not really. Since the Smartglass isn't attached to a controller you'll have to constantly switch between it and the regular controller and that severly limits the gameplay possibilities compared to the WiiU pad. The WiiU would let you scan stuff in Metroid Prime or shoot ghosts in Fatal Frame without any hassle, but doing the same thing with the Smartglass would be a pain (if it works at all).
Another big difference is that the WiiU pad is the primary device for WiiU unlike the Smartglass. Unless the Smartglass takes off like the Kinect or better, it'll mostly be used for optional features.








