David;
As I read the 1888 catalog description I get the feeling the elimination of the sear spring is not in reference to earlier Smith guns, but to those of other makes. This gun does have a lot of Smith looking features. It may well be a prototype which never actually made it into production. Actually from my perspective I like the setup of the sear here better than on their production guns. I have always felt the sear should engages the hammer as far away from its axis of rotation as possible. "Uncle Dan" Lefever used this concept on his sears consequently they have separate sear springs. Separate sear springs are not really a big deal IMHO.
Does this gun have the Alexander Brown designed Rotary bolt?. As I recall this came into being around 1884. W H Baker had left the company about 1880, though this design could have been a hangover from his designs.
Whatever it proves to be it is a very desirable & interesting gun.You should feel fortunate indeed to own it.
Later Baker guns incidentally did not use this design either.


Miller/TN
I Didn't Say Everything I Said, Yogi Berra