"2014 - Kunce of the year"
Depends what muscle you want to target. Standing will be better for the gastrocnemius, seated for the soleus.
You could still sit in the Smith with a platform/plank of wood and have the bar just behind the knee... probably the only time I'd suggest a towel/bitch pad. Not sure how difficult it will be to rack/unrack the weight if you're doing them heavy either
That went through my mind as well, I think I want a seated calf raise machine if I can find one.