One thing I should mention though. Don't use noise reduction on your SMPTE track. Some recorders have the option of disabling noise reduction on the last track (track 8, 16, or 24). Maybe that is what Bigsnake00 meant by SMPTE ready. Noise reduction can mess the SMPTE signal up. If your recorder doesn't have the option of disabling it on the last track, you should just disable the NR altogether on your recorder when you intend to use SMPTE later. This may make your recorder useless due to noise.
You should also watch your levels when printing a SMPTE track. The signal is pretty nasty, and may bleed to adjacent tracks. That's why you use the last track for SMPTE. The last track only has one adjacent track. Print the SMPTE signal at -10db or less if you can get away with it. That's the standard level on 2" 24 track and I know it works on 1" 16-track. On the narrower format tapes, it may still be too much.