If we come to accept cognition as fundamentally embodied then it becomes less sensible to compare cognition across differing architectures - human cognition will always be quite unlike any other type of cognition except itself. I think machines will have consciousness (why should they not be able to, what is so special about us that would limit this phenomenon to us?) but it will be a machine consciousness and radically different from ours.
I think we're going to have to get a lot more fine-grained about how we talk about features and functions of brains whether human or machine. You've already put "smarter" in quotes which shows that already you're aware of how blunt and crude our terms are.
Does this all seem reasonable?
I am guessing something similar is going on with our understanding of the brain and mind. I think we just haven't figured out a good way to model and represent knowledge. There was terrible optimism at the end of 50s that super human AI will take over in just a decades. But it didn't happen. We have sort of been stomping our feet (I personally don't consider playing chess an AI achievement). I think there will be a breakthrough -- maybe it will be a simple organization of existing ML and knowledge representation methods (neural networks, mixed with evolutionary algorithms) or some new framework - OR - enough of very specific applications (chess playing, image recognition and speech recognition) advanced will slowly chip away at this "magic" AI core until maybe nothing will be left. And we'll look back at that and at our brains and say "ah, it wasn't that complicated after all, it is just all these specific subsystems working together"...
Can a computer be "processing" water pipes, analyzing the construction of pipes for the best flow, then jump to half-pipes and building a new half-pipe so skateboarders can flow better and produce better tricks, get more air, etc. Albeit a kind of lame example, but that jump is crucial, and something we do flawlessly. There's no hard guideline to what triggers our brains to jump. It could be audible, visual, or tangentially related to the task at hand. It could be body language of someone talking to us, that reminds us of somebody else, that reminds us of... Logical thought isn't that beautiful to me. It's predictable. Lateral thinking is though, and that's where all of the good inventions/discoveries begin anyways.
And even more OT, this reminded me that I don't recollect any "robot jokes" in any of the science fiction books I've read. Granted, there weren't that many (just the basics: Asimov, Frank Herbert, Philip K. Dick, some Stanislaw Lem), but I'm curious if any SF writer wrote "robot jokes", more exactly jokes that us, humans, think will be made by robots in the not-so-distant future.
Edit: Though, to be fair, Lem didn't write near-future SF, his robot stories were more like alternate universes.