psd files with smart layers are bigger
just returning to this about 6 years after the last time I posted it.
So lets say you create a smart object from a background layer, you then duplicate it, and apply filters, then go back to the smart layer, duplicate it again and apply a bunch of filters. do this so you have 5 layers in total including the background. Each instance of that layer is identical apart from the filters that are applied to it. There only needs to be one instance of the pixel data recorded in the PSD.
Why then if I save a file with all of those smart layers rasterised is it smaller than the version with the smart objects? Below the PSB is the smart object file. This is true whether I save with max compatibility on or off.

last time I brought this up I was told that that was exactly what happens with smart layers, but it patently is not.
