Bowe would be the favorite in this scenario but I think this would be a hell of a fight. Smith was on a role in 86
Bowe easy The jab would disrupt Smith's offense. The right cross would land plenty. Smith had a good chin so probably lasts the distance. Bowe UD
Smith was outpointed by Marvis Frazier in 1986. He surprised a slow starting Weaver and an out of shape disinterested Witherspoon. 1992 Bowe is fresh, focused, in shape and entering his prime.
I've got Bowe all day with that inside game. Smith could be a bit lazy and that is not good against a prime Bowe.
If Bowe keeps to the plan, the match is easily his. I wouldn't bet on Smith having any chance to win, but he could definitely hurt Bowe majorly if he gets too comfortable and ends up brawling. As good of a fighter as Bowe was, if he wasn't focused, he could lose it.