I think the show kinda went downhill after The Cut. Kinda like the dolphin thing for Happy Days.
It's like after The Cut, Lois didn't do B & E's anymore -- and she just generally lost her spunk. I think that if it hadn't been for The Cut (and the small detail about Teri getting pregnant pre-S5), the show woulda lasted longer than Smallville.
A copy of The Daily Planet for your thoughts?