I have ridden: Peruvian Paso, Icelandic, and owned and ridden: Foxtrotter and Paso Fino. In my opinion--Peruvian Paso was the smoothest, but Shari is so right--lots of suspensory problems, risky to try to find one that will stay sound. A gal from Germany--big dressage expert-lives just down the road, also has Icelandics--I tried them, just didn't do anything for me-I have too much background w/ stock horses(and I DON'T mean 'peanut rollers'!) to like a horse that goes with its neck high and nose out--I KNOW that's how Icelandics go--it's just that it doesn't appeal to me personally....)Went to Missouri to 'shop' for Foxtrotters(with two friends, one of whom had had them for awhile). Two of us bought, went back to get them. My friend's horse was smooth-riding, but he was doing a stepping pace, not a true foxtrot. My first horse turned out to be the most dangerous horse I'd ever encountered-would just be going along, then TOTALLY blow up, w/o warning(and believe me, everything fit him fine.)I believe he was drugged when I tried him out; in fact, I think a LOT of that kind of stuff goes on, when someone who isn't familiar w/ a breed shows up...JMO. I sold him to the local dealer in a hurry, before he could kill me. I later bought a nice young gelding from the same guy my friend got hers from; he was a nice horse, but not all that smooth to ride...lots of movement in the small of my back, AND, because of the strong 'stepping up under himself' with the hind end, he would often 'slip' behind, if riding down a fairly hard-surfaced road(not asphalt, just the typical road around here). The Paso Fino was pretty smooth to ride, but absolutely WOULDN'T hold a lope--he was smooth as silk at the lope, but couldn't seen to stay in it, and/or would disunite or completely 'fall out' of the correct lead...and he has a couple of really BAD, and dangerous, habits that I couldn't break without risking injury to him(he would jerk loose just as you took off his halter, AND he would 'shy', then turn and bolt)--so I sold him(with full disclosure) to someone who just wanted to gait down the ditchbank, and never lope! I did wish I'd had him from the start; I believe that it was a lack of proper training/discipline that led to his problems, but I didn't want either him OR me to get hurt trying to 'fix' them.
What I have come to believe is that MANY gaited horses don't gait as they are reputed to....and if they aren't true-gaited, they may not be nearly as smooth-riding as portrayed--even if you know all of the 'tricks' to get them to go properly(which can be quite a chore, in practice.) I has assumed that the smooth gaits were natural--after all, they are bred to do them--but in my experience, that is often NOT the case. I just went 'back to my roots', got a Paint (APHA) mare of solid foundation QH/Paint breeding--she does NOT have a ground-covering walk, but does have a SWEET smooth jog trot, and is an extraordinarily good trail horse--gentle, easy to catch anywhere, hauls, ties(overnight to the trailer, for instance)like a dream, excellent for farrier and vetting, good-disposition in a group...so she's a keeper. I do wish she had a better walk, but her trot is SOOOO smooth, it makes up for it!
IMO--gaited 'can be' very nice, but may equally as likely, be problematic. I would rather have all I have w/ Jordan(my Paint mare).
Margo