Wayne had the advantage of Manning (at least top 3 QB of all time) as his QB the majority of his most productive years, having another amazing receiver (possible HOF) in Marvin Harrison on his team. Add on that he was a first round draft pick, is taller, was on a pass first offense...
sounds like excuses to me. Reggie Wayne's ring is heavier than any of these excuses.
Not hard to explain how Wayne, who is a talented player and worthy of recognition for his accomplishments, has been greatly helped by his circumstances. Meanwhile, Steve smith was a third round draft pick who was drafted solely because of his return skills and nothing else, had an average to below average QB most of his career, was on a run first team, broke his leg and missed an entire season, was doubled teamed his entire career... Yet still managed to have an equally successful career and in comparison the only thing he didn't do was win a ring which is heavily team dependent.
If only smith had a ring I could easily say Smith, without a doubt, was the better WR than Wayne. Maybe he still has a chance.