Having been a seasoned PM for a very long time, what enticed me towards Smartsheet is the simplicity and ease of use.
Having said that, I believe it is a pain in the rear to modify a template. Currently, these are the steps I have to do to modify a template:
1. Create a new project from a template.
2. Make necessary changes to the project.
3. Save the project as a template.
4. Delete the old template (not sure why it does not overwrite)
5. Delete the temporary project I had to create to make changes.
Unless I am missing something, this is absurd. 
Can Smartsheet team provide a feature to modify the template directly?
Peter.