Among the amount there are gems to be found. At present time the very first hit is Albert Baumgarten's Elias Bickerman As a Historian of the Jews: A Twentieth Century Tale (Texts and Studies in Ancient Judaism 131. Tübingen: Mohr Siebeck) which devotes a whole sub-chapter to Morton Smith, regarding his friendship with Elias J. Bickerman, a colleague at Columbia. From page 205 onwards:
Smith's insight is revealed in a story told by Moshe Idel. When Idel came to New York to the Jewish Theological Seminary to deliver the lectures later published as Kabbalah New Perspectives (1988) there was an old man who sat in the audience at every talk, taking careful notes. At the last lecture, this man approached Idel and said that he had enjoyed the talks, but thought that the material could be organized differently. He then presented Idel with an outline of the topics completely redone. Idel saw the merits of this alternative way of arranging his subject and adopted it for the book. The old man, of course, was Morton Smith. (206)
[NOTE: The following section was edited after Baumgarten pointed out in the comments below that I had managed to seriously misrepresent his argument concerning Bickerman's faith. For details and my puny excuses, cf. the comments.]
Baumgarten goes on to discuss Smith's "loss of faith" and describes it as "[t]he key to understanding Smith's life, as well as his work as a scholar". (206) Smith's letter to Mrs. Hans Lewy (January 3, 1946) and his article Psychiatric Practice and Christian Dogma (Journal of Pastoral Care 3 (1949), 12-20) indicate to Baumgarten that Smith was undergoing a "personal crisis" regarding his faith. (207) The end result was summarised by Theodore Gaster, another Columbia colleague of Smith, by these words:
Morton Smith is like a little boy whose goal in life is to write curse words all over the altar in church, and then get caught. (209)
But how to combine this characterisation with the facts that 1) Smith never left priesthood but remained on an indefinite leave from clerical duties by the sanction of his bishop, 2) in the beginning of the 1970s replied to the bishop that he did not wish to leave priesthood since he preferred to keep his options open in case he changed his mind (again), 3) retired as a priest when he reached the age of retirement in the 1980s, and as Allan Pantuck noted here, 4) "when Smith died, he still had in his briefcase a card from the Diocese of Maryland identifying him as a priest of the Diocese".
Whatever we make of the character of Morton Smith, I have the feeling that it was far more nuanced than the simple accounts we have used to hearing suggest.