Mark highlights the Smartlist Left Pane curse (what else do you say if you see half of your screen is occupied by the Smartlist Favorites tree view and only half being allotted for results?) and a suggestion that was made by Sivakumar V.
The Connect suggestion post can be seen here: GP Smartlist Window Splitter to be made resizable.
But when I see this suggestion, it says Resolved:
So that means, is it going to be available on next release? Or on GP2013?
Nevertheless, visit the portal and vote for it.