I've seen both the UK and US version.
The UK dub was made first, roughly in the late 70s/very early 80s. Probably depends on the UK release date, which I can't seem to find.
The US dub was done by Stuart R. Ross' company, First Performance Pictures Corporation, and the dubbing cast consisted of non-union vocal talent best known for anime voice work! (Cam Clarke, who voiced Kaneda in the Streamline dub for AKIRA, and also voiced Snoopy in SNOOPY!!! THE MUSICAL, did the voice for Peewit, and Mike Reynolds, who you've heard in countless anime movies/series to this day, voiced Papa Smurf and the villain Matthew McCreep!)
The Vestron Video version and the Tribune TV versions both use the original First Performance Pictures credit (from the US dub's original negatives), while the Atlantic Pictures theatrical print (which is complete and uncut) instead uses the Atlantic Releasing logo/credit. To the best of my knowledge, all US prints use what might have been the original opening credits used in the UK version (which, in the current DVD, has since been replaced with a cleaner version with brown-green background instead of blue, and new credits (in a Medieval font), adding "Smurf.com" at the beginning).
Johan was called "John" in both dubs. In the UK version, Peewit was called "William." (My guess is that this was a localization thing; Peewit, pronounced "pee-wee," sounds too much like the British terms for urinating; "pee" and "wee." Probably an inappropriate name, when you consider that the Nintendo Wii went through the same thing!) The wizard Homnibus was not mentioned by name in the US.
FYI, the original French name of the villain was Torchbag (Torchesac). In the UK, he was called "Matthew Oily Creep," and in the US dub, he was "Matthew McCreep." I dunno about the change from Lord Mumford to Earl Flatbroke, though.
While the UK dub is not at all bad, one problem I had with it was how some of the Smurfs were dubbed. Some of them have very low voices (electronically reduced pitches; listen especially to Lazy Smurf in the Smurfs' introduction musical number! He sounds even creepier than in the US version.), others were even unintelligible (Grouchy Smurf talked in a thick Cockney accent AND the aforementioned electronic low-pitch). Might be one of several reasons it had to be redubbed in the US.
Hope this helps some!
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