I agree that Smith wasn't having luck in the red zone, but swapping QB's in big games has a demoralizing effect on the QB's. Always has.
Smith has to learn, or Swick for that matter, exactly what Vince Young was allowed to learn - which is how to overcome a defense that has you figured out. Switching them up shows you've lost the belief they have what it takes, right there and then, and the QB's learn that they have to play at their utmost best or they're yanked. That doesn't make a good player, not in the long run. It didn't work when Cooper tried it (for 2 seasons), it won't work now.
I think the heart of the problem is that Tressel doesn't quite believe in either guy, and is trying to let them compete for the job. I think the real way to go is to pick the one that has stepped up in a big game, show some belief in him and let him learn poise when the game goes wrong. That way, each player knows his place. Flux at QB has been the death nail for many a college ball team.
BTW, I have an interesting insight into this problem...I had competing QB's when I played HS ball, and we went through exactly what OSU did Saturday. One player gets bogged, he's out. It worked for some games, but neither guy ever shone. They had ups and downs, but mostly downs.
I agree with you on the other points tho, Young seems like the real deal and Hawk is undoubtedly the most talented LB in college ball. He's in on every play, in one way or another. Haven't seen a defensive player like that since Grant Wistrom or Spielman in his heyday.