Its my understanding that the first official release should support zones as well.
Note that it seems that you can use the update manager together with the regular tools, they only suggest that you shouldn't use them at the same time. In other words; in theory you should be able to use your current tools for supporting the zones, and the update manager to do the rest.
Personally I wouldn't take the risk and wait for the official release.
But on a machines with zones, the old smpatch (from patch manager) basically worked fine.
Except that now it commits suicide by automatically downloading 119107-03 and crippling itself.
It wouldnt be a problem for machines with zones if you could continue to use the old system if you wanted.
But you replaced something that worked ok with something that doesnt work. And whats worse, you did it without warning...