Seeing Ian McLeod's name on this (The same guy that makes Chieftains) has me intrigued. From what I have read and then reading AVB's comments I am a little confused.
Smokehead appears to be a single malt while Compass Box Peat Monster is a blend of single malts, or simply blended malt whisky. It looks like the terms Vatted and Pure Malt have been disallowed.
There was a topic on Whisky Magazine where a lot of people think Ian purchases his whisky for Smokehead from Caol Ila, but I never saw any proof.
Royal Mile Whiskies is saying Black Bottle 10 was discontinued in 2010 so stock up now if you are a fan.