There is a new wonderful thread at WebmasterWorld named How to make Smartpricing work to your advantage. Member 21_blue shares his four step process to achieving top earnings with Google AdSense. He believes targeting an "EPC-based strategy" will help you achieve the best possible bottom-line results.
Here is a summary of the steps, but for the full details visit the thread;
(1) Collect relevant information including EPC data, AdWords PPCs, and identify which pages are using SmartPricing the most. (2) Improve your EPC - lots of ways to do this. (3) Watch and monitor your results over next several days (4) Remove the ads from the low paying pages and direct them (some how) to the higher paying pages.
Forum discussion at WebmasterWorld.