Also, to open up another interesting area, Linq operating on IQueryable objects can do some pretty interesting stuff in the background, merging sql queries and the like. I've never looked into if it does anything similar for IEnumerable - although I will should the situation come up.
FOR and IF are indeed valuable, but that doesn't make them not smells. For me a code smell is not an anti-pattern - it is just an indication that something has the potential to be wrong. If you are writing lots of IFs and FORs in your code that might well be fine, but it has a good chance of causing problems. Smells, for me, just mean "justify this decision" - not "never do this".