Get the book "Starting Out: The King's Indian" by Gallagher and you'll find out a good response to the Smyslov system which Smyslov played himself.  Actually for more detailed coverage get Gallagher's "Play the King's Indian" which recommends the same system.  As a hint I'll add that playing for ...c5 instead of ...e5 seems to be the way to go here.

As for my opinion of the line for White I think it is a solid variation that will probably score well for the first player against everyone that doesn't know the antidote.  However based on analysis from the "Play the King's Indian" I'd say White really needs a new idea here.