Really it should go beyond that, and smart campaigns should have a simple functionality that allows you to see both currently and historically how many people are at each step in the "Flow" at any given time. It should also allow you to "connect" multiple smart campaigns so that you can monitor the flow as people move from one campaign to the next. Most campaigns have a "goal", and when the user hits that goal, they are no longer in that campaign, so in order to properly measure success, naturally we should be able to easily see whether people are achieving a given goal and then what happens to them next.
I would be happy to provide further feedback on this matter if it is desired. I think this is a crucial missing component of Marketo that makes it unneccessarily difficult to organize, track and optimize the lifecycle of a user.
I would like the ability to add conditions to the Wait Step. In other words, if they are located in another region such as EU or APAC, the wait step would end at a different time. This would make it easier to email people globally from a single campaign instead of having to create additional Smart Campaigns for other regions.