I've upgraded my pre-order to the Smaug Gold SE. Jack has stated we haven't seen everything...that is fact...many things missing from the Expo game shown with beyond basic code presented. This game will be one hell of a ride once completed no doubt. I hung in there with my ECLEWOZ pre-order (couldn't be happier with the finished product) and will do the same here.
If you cancelled because of what's been released and shown so far I think it's a mistake. Why not wait to see the finished product? It's only a couple months away now. You could always cancel later if you wish.