Calling The Smile a "Radiohead side project", as many people have, would be disingenuous. First of all, The Smile are missing 3/5 of Radiohead and Nigel Godrich. Second, such a term discredits the phenomenal drum work of Tom Skinner, and third, the band absolutely stands on its own as a fantastic collective.
I first listened to A Light for Attracting Attention right around the time Wall of Eyes released. It was certainly unique, but Thom Yorke's voice is unmistakable and adds knife-sharp wit and emotional versatility to absolutely any album he's featured on. "A Hairdryer" sounded like an In Rainbows track mixed with Atoms for Peace-style experimentation.
Once I listened to Wall of Eyes, though, I became enamored with the band. "Read the Room" felt like an amalgam of Queens of the Stone Age and Radiohead, and I listened to it countless times throughout the wintry doldrums of my freshman year of college. Eventually, I found myself eagerly anticipating Cutouts after hearing "Don't Get Me Started", and I listened to the album while going for a lengthy walk on its launch day. It's amazing; a solid mix of electronic craft and sharp ideas. "The Slip" is so ferocious and fun, and I particularly like "Bodies Laughing" for being a terrific instance of a foreboding closer.
There's not much else I have to say about the band, honestly. They're awesome. Some have speculated that they've now "cleared the decks" with Cutouts, implying that we'll get Radiohead's tenth LP soon. More music from either group would be a great thing; I don't really care which comes first.