Basically same principle, it is a trade off as always, but for things that are re-used best to always be part of the panel (addMember()) and then use show()/hide(), for other things can always recreate/destroy() as needed. Only difference is the API of course, Layout.addMember() is what you use generally for SmartGWT. You can mix GWT and SmartGWT yes but be careful, best if the ‘leaf’ element or childless element is always of GWT type and parents are of SmartGWT. Best place to start is the Showcase.
If you reuse the components yes, plus removeChild() and removeMember() are two very different methods. I’d recommend sticking with addMember()/removeMember() functions for adding and removing panels.