i don't think you can say that MSP vs. MSP, one with smic and the other with fmic; all else equal the smic will win. That is a very vague statement.
Honestly, it really depends on your goals for the car and what your setup is. If you plan on modding very lightly (intake, legal exhaust, less than 10psi, cool climate, daily driven

then SMIC may be right for you, and yes your car could be faster with it than with a large fmic. Many high-hp drag cars run with some style of smic, or no IC at all...but they are not daily driven and thus prone to heat-soak as many msp's are.
If you plan on boosting a lot though, a fmic is a necessity in my opinion. As well as if you have big plans, or want true top end power. Depending on the setup it can be less "peppy" with a fmic, but the top end and flow will be much greater. In my opinion a small fmic (hiboost or BEGi size) is still a better option than the smic... but what's again relevant is that i do live in Texas, where it was 110 degrees the day i got tuned for example.
My experience with the Hiboost has been wonderful. Before i got it i did a lot of research and decided that that would be the ideal size for me. It's relatively small so there's virtually no lag, because i really liked the 'quickness' of the msp and didn't want to take away from that. I did want a fmic just because it cools so much more and in texas that's important. I did not feel the need however for such a big core such as the perrin because i didn't see the need. After having the hiboost through most of the summer now, on occassion i DO wich i would have gone a little bigger (perhaps PG size?) for even cooler temps and bigger numbers as my goals have changed a little. but i am still happy overall with the hiboost, and in my mind NOTHING beats driveability.