*UPDATED*Started my SMP build last night...
Lessons learned.So far, after close observations.... it's a very simplified system. Engine (really just some machined parts, nozzle) and a pneumatic solenoid. Trigger board is just a few microswitches (basically on/off switch). Fire Control Unit (FCU) is basically an Arduino Microcontroller with an Atmel chip onboard. All it is, the trigger is your input into the FCU, the output is the solenoid (releasing air). Very efficient on battery as each trigger pull draws microamps, hence it can last thousands of rounds before the next battery charge on your 7.4v 500mah lipo.
SMP InstallsBase: Cyma CM048 (02C Gearbox Shell), pretty much you'll either give up or need a donor gearbox shell for this project.
It would also be wise to hook up everything from the box to your air supply and test out the functionality before you drop the SMP into the gearbox.
1) V3 SMP is not a direct drop in (as TJC described before). Have to modify gearbox by dremel-ing some material away...

2) v3 Motor cage modification. Material will have to be removed in order to compensate for the macroline drop for air supply
Used a 11/32" drill bit to mod my pistol grip for macroline drop.

3) SMP Trigger Board assembly: a tiny phillips head screw is needed to mount the circuit board assembly. This screw can be obtained from the old trigger assembly.

4) Tuning: Have a chrono handy and a loaded mag with desired bbs weight. Pretty straight forward. Don't over pressure your reg (+120psi). This video helps out on tuning:
https://www.youtube.com/watch?v=XhcI9ZznhV0. I loaded mines with a few different bbs and weight to test out my baseline.
My main baseline was the Laser Dot BBs purchased at Disruptive. Very consistent.

For LC and their chrono stations TJC mentioned they maybe using Golden Balls Bio .30g. I tested this too. Kind of all over the place... I posted another thread on different bbs tested out on this setup.

5)Hopup: Installed a Modify Ryusoku Flat Hop in. Let see how this works out. Flat nub, bucking is smooth inside. I know TJC has some Maple Leaf concoction in his hop up.
Air SupplyRegulator is a Redline Firebase. With the standard air tank, the output on the nozzle (of air tank) is about 600-800psi (unless you got some Super Low Pressure [SLP] airtanks, which outputs up to 300 psi). As the air goes into the Firebase reg, the pressure is stepped down to between 40-120psi (SMP operating range). If the reg is tuned too high (150psi), there's a check valve on the reg that will automatically bleed pressure.
Lessons learned when putting the reg together:Take your time putting the fittings together. Use teflon tape or plumbers dope to seal the threads. After all the fittings are on, turn on the pressure and apply some soap/water spray around the threads for leaks. My Ninja Air Supply Adapter (ASA) is pretty shitty as I have a very slow leak (Where it says open/close). Keep in mind, paintball ASA are the exact same as the Ninja ASA so it can be used.

Firebase Whitepaper (theory of operation):
http://www.redlineairsoft.com/index.php/air-systems-accessories/product/download/file_id-58Firebase Manual (maintenance):
http://www.redlineairsoft.com/index.php/air-systems-accessories/product/download/file_id-98Tournament LockoutsPrevious discussions were about lock outs for regulator and FCU.
The firebase has a built in locking mechanism. Zipties used (see the silver cap in image above). For FCU, you can either get fancy and go buy a specific FCU Lockout (
http://natechdev.com/?product_cat=tournament-locks), or build your own with a 10 round paintball tube (tampon protector sleeve) by trimming it down a few inches and add two holes at the top for ziptie lockout... According to trent, the tube w/fcu will fit in the AK.

"Locked Out" with ziptie
CompatibilityV3 or V2... Same Engine, same FCU.
V2Only thing on the different between both versions is,
-V2 has a buffer buffer adapter
-14in cable assembly (between FCU and Solenoid)
-v2 specific trigger board (the microswitch position on the circuit board differs for the trigger assembly)
-Nozzle.
V3-No buffer adapter
-12in cable assembly (between FCU and Solenoid)
-v3 Specific trigger board
-nozzle
I don't know about the direct drop in capability for the v2 gearbox but one day I may try (probably as this SMP was designed, the tolerances were for the V2 gearbox. Hopefully the Hydra engine designs have addressed the v3 tolerance issues).
Website to source extra SMP parts,
http://www.ampedairsoft.com/wolverine-smp-nozzles-and-parts/Nozzles = $21
FCU = $65
Trigger boards = $20
Buffer Adapter = $13
Also, digging around on the community, looks like Wolverine will be introducing a bluetooth FCU (should be compatable with the SMP and Hydra) where you can tune your dwell and ROF via your Android or iPhone... Kinda makes the FCU lockout pointless [edit: rumor has it the bluetooth connections have built in tournament locks]...
Air Refill StationGiven we are gearing up for LC, and if more guys on the team are running HPA and we end up with a Scuba Tank on hand, I have a fill station handy for this purpose...

More to come later.