are you editing nurbs ? poly's or subD's ?
well at any rait. you should be able to have like 2 perspective views.. or maybe it would work better if you creat a camara and have that as one of your views.. you should be able to set the display quality difrent for each view port.

I gess I'm a little confused buy what you meen buy smoothshade view.

anyway.. this should work for both the display quality and for wireframe or smoothshaded..