This weekend I got an R&S SML03 to play with. So far, I like it:

I cleaned it up a bit, and it looks a lot nicer now. I opened it up and dusted it with some compressed air, and attacked the fan also. That helped reduce the fan noise a little, but it's still a loud ass fan.
Signal quality looks good, and it's pretty darn close considering it hasn't been calibrated since March of 2007. A 500MHz signal shows 499.9995MHz on my SDS2504X HD. 100MHz shows as 99.99990MHz. 10MHz shows as 9.999989MHz, which is about what the internal reference showed over an extended period of time. I may try to do a small adjustment.
Here's some useful info for the series:
Stock Fan: 622N EBM-PAPST
12V DC, 160mA (SML service manual specifies 12V, 170mA max)
Passwords (use at your own risk):
LEVEL 1 Password: 123456
LEVEL 2 Password: 261339
LEVEL 3 Password: 710845
LEVEL 4 Password: 593748
From the manual:
Password 1 deactivates the lock for the calibration of Main Loop, Level Preset, LFGen Level, Leve,
IF Filter, Harm Filter, Mult Filterl.
Password 2 deactivates the lock for the calibration of RefOsc.
Password 3 factory internal
Password 4 factory internal
ETA: I've attached the final firmware version 2.51.15 (with permission) for the SML series. USE AT YOUR OWN RISK!!! It requires a 32bit Windows version to be installed. It took 24 minutes to install for me.
ETA2: Power supply model
LPQ154 datasheet added.
ETA3: Maintenance manual section including error codes added.
Thanks,
Josh