Short but sweet: in Tiger's Mail.app, a double-click on the icon of a smart mailbox brings up the smart mailbox editing sheet. That is, it is equivalent to selecting the smart mailbox and selecting the "Edit Smart Mailbox..." menu item.
Pity other apps (Address Book, Finder, iTunes) don't follow suite.
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Mac OS X Hints
http://hints.macworld.com/article.php?story=20050502091945281