The Wall Of Weird

Chloe Sullivan and her Wall of Weird are good additions to Smallville and should be retained in some form in any future version. It is good that Smallville no longer has a Superboy but the town where Superman grew up does seem to deserve some kind of appropriate weirdness, though not a supervillain every week - something more restrained like:

the hypnotic green spring water in Alan Grant's Smallville novel, Dragon;
the "Smallville Angel" which, in some earlier versions, was Clark helping and rescuing from a distance or while moving too fast to be seen;
the "Superboy" - in a more recent version, there were unconfirmed reports of a boy in Smallville running impossibly fast, maybe glimpsed from a train?

Need Clark be extraterrestrial? Maybe it is just that Martha was pregnant when the meteors came? But, if the extraterrestrial origin is retained, then the meteors both conceal the spacecraft and cause the weirdness. But I think the story should start with the central character's experience of growing up in Smallville, not with his arrival.