Sandstorm (e)
Earthquake (or dragonstomp, what you want)
Aftershock
Ancestors visage
Storm Djinn's haste
Mantra of Earth
Stone Striker
Stone flesh aura
Attributes:
16 earth
6 Energy storage
9 Illusion Magic
3 Air
8 Inspiration Magic
Insignia's :Geomancers is most optimal, however tempest works just as good, even radiant might work. Hell, you can probably do it without insignias.
Gear: Anything that you like. +5e and 20% enchanting gear is optimal. Can also use a staff if you like to wand from time to time. Shield or focus won't really matter (shield insignia with +10 vs earth would give you high defense, together with geomancers and stonestriker you can survive for a long time even without stoneflesh).
Rest is pretty straight-forward thinking. With mantra of earth + stonestriker + stoneflesh aura you take 0 damage from all hits from grasping squids and smites. So try to keep those up all the time.
Strategy:
Graspings
Pull the graspins out of aatxe sight after you used all your enchants (I start with mantra->stonestriker->storm djinn-->stoneflesh). When the graspings follow you, run to a safe place (at least at the altar where you spawn, some groups follow even further). When you've reached your 'safe spot from aatxes' start attacking them with your wand/weapon so you are making sure the graspings are wasting their d'blows on you (they normally always start off with that anyway). Count the number of d'blows. When they all wasted it, use AV. They haven't got enough adrenaline for skullcrack yet so don't worry about that. Wait 1 or 2 secs after you've put AV up (they should run out of energy now so they can't use d'blow again).
Than start casting sandstorm, followed by dragonstomp and right after that aftershock. Sometimes graspings aren't completely dead (depending on how long you've waited after casting sandstorm with your dragonstomp). If you wait a few seconds (about 3 hits of SS) and than use dragonstomp, graspings are most of the time dead in one combo. If you've casted dragonstomp immediatly after SS, you have a good chance they survive with some HP left. 2 or 3 will flee and 1 stays attacking you in sandstorm killing himself. When the other 2 (or 3) come back, they've normally gained enough energy for another D'blow. So start attacking them with your wand/weapon again to make them waste it. When you see they all wasted it, finish with either dragonstomp + aftershock, or only aftershock, depending on the HP they still got. If you feel like playing safe, cast AV another time before your finishing combo.
Same tactic with all 3 groups (remember you can lure 2 groups at a time).
After the clear the chamber part (about 3-5 min depending on how many groups you are luring at the same time) you are ready to run to the Smite area. I think we all know how to do this, otherwise I suggest looking at other threads: it's explained everywhere. For example at the sticky in this section; art of UW.
Depending on your playstyle, you can leeroy trough the second room (avoid narrow spaces combined with aatxes or you'll rubberband causing you to die) or be safe and don't aggro the grasping patrol. Even with a NM in it you can still easily get past em; just recast storm djinns.
Smites
Smites are really easy, they are just walking ecto's with a small chance they will drop it. Gather all the groups you can find in the area, put your enchants up and when they are all on you, put your visage on. Right after that start casting sandstorm, followed by earthquake, followed by aftershock. BAM, all should be dead before they even run away!
If you don't trust yourself that you can kill them in one combo, block the smites in a corner so they can't run away thus dying of the remaining sandstorm hits (which take place after your dragonstomp/aftershock combo).
It's possible to take out coldfires, but don't bother. They don't drop ecto and fighting them isn't exactly easy.
When you do things right, smites should drop in one combo, meaning in under 10 sec. No matter how big the group is (so try to take on several groups). With this knowlegde we can conclude that this is definatly the fastest solo smite run around. Runs are easily done around 12 minutes, with my top run of 9.33 I think..
Feel free to post your comments, I'm looking forward to read them

video:Number 1
video of killing graspings all at once: Number 2
Note: also after several updates on AV and Sandstorm this build is still possible.