Smyth has hinted at wanting one more kick at the can, so I imagine if he is traded I would guess he tries to go to Chicago, Anaheim, or Pitt. I would be he could care less what his role is going into the playoffs so long as he gets a real kick at the cup.
That said, if he would be OK with playing on the 4th line with some spot time on the PP and perhaps even being a healthy scratch some, I would bring him back in. Oilers will be giving him away to wherever he wants to go, so the cost would be virtually nothing...and in a big game in the playoffs I would much rather have Smyth in the roster than Bords. I also think Smyth will be one of those guys who plays far over his skill level in his last go and a contender will get flashes of him as the playoffs go along.