SmartScreen Filter seems like a good idea on the face of things, but I think that a few changes are in order:
1. Allow user defined exceptions for frequently used applications.
I am currently playing through Avernum: Escape from the Pit, a remake of a classic turn-based isometric adventure RPG. The problem is that every time I launch the app from my desktop or directly from the .exe, SmartScreen blocks it. I went into the .exe's properties and tried to turn off the SmartScreen feature for this app, but it didn't seem to make any changes after hitting Apply. I don't want to turn off SmartScreen completely because of it's value in preventing malicious software from running, but I also don't want to half to ignore the warning every time I launch this app.
2. Warn us before Windows sends data to Microsoft.
I'm not aware of any feature in the SmartScreen Filter that warns the user that Windows is transmitting data to MS. This isn't a big deal for me, but you can bet that at some point down the line, someone will cry fowl about a privacy invasion. Just like Windows error reports, users need to see what is being sent and need to know when it is being sent. An assurance that a name will never be attached to the report is also important. This isn't so much for me as it is for a hypothetical situation in the future that could get MS in hot water.
Perhaps these changes have already been implemented in the RTM, but I haven't seen it yet. I look forward to a final release of Windows 8 and am happy to provide my input on how it can be improved.