Smart Client Re-Defined
The MSDN Smart Client Developer Center has been relaunched. They even have a new graphic!

I have to say, though that the old Venn diagram communicates a bit better.
The graphic is from their Smart Client Definition page. Without further ado, I give you Smart Client:
Smart client (n) Definition: Smart clients are easily deployed and managed client applications that provide an adaptive, responsive and rich interactive experience by leveraging local resources and intelligently connecting to distributed data sources.
A smart client:
- has local resources and user experience
- is connected
- is offline capable
- has intelligent deployment and update