The second most serious shortcoming is the possibly unusual sense of your use of the phrase, "smart quotes."

MS smart quotes are 91 (‘) and 92 (’) in cp1252. They are U+2018 and U+2019, so they are actually written as ‘ and ’ in HTML.

‘ and ’ refer to other characters that aren't even present in cp1252.

U+2018 and U+2019 are E2 80 98 and E2 80 99, so the OP is indeed referring to smart quotes.