I'm not a huge fan of the current Shock balance. Smoke grenades don't exactly take an IQ of >160 to use properly: You throw the smoke grenade the maximum distance the Shock can throw it towards the unit you want to flank and then charge up.
Shocks are the only squad in the game left with functioning, non-vet related armor. They're also a 6 man squad with extremely high DPS which makes them incredibly effective. I personally don't mind their DPS but their survivability is a little frustrating, especially paired with their smoke grenade.
For 390 MP and 37(I think) reinforce, they're extremely cost-effective (unless you're retarded and charge them through red cover at multiple squads). If you can get them close, they're insanely punishing and will deplete a full HP squad (or multiple squads) at a drop of a hat. I don't know if I like this cost-effectiveness: Keep in mind, similar squads like Falschirmjaegers and Obersoldaten with the IR upgrade just don't have this effectiveness (These are significantly more expensive squads as well).
I think the main "advantage" of shocks is their survivability. I dunno whether that advantage is a problem though, although it gives Shocktroopers the edge over the Axis factional equivalents of the unit.
1. It does not take IQ of >160 to expect smoke/see it, then to move your units farther away from the smoke.
2. Armor acts almost identically with reduced incoming accuracy modifier which many wher and okw units have except armor is slightly worse.
3. extremely high dps at hugging range. yes it is funny to see your units drop like flies even at hugging range but anything short from that shocks do so little damage.
4. Falls and Obers are not similar squads.
5. They are more survivable then other squads due to the fact that they have to close in to do the damage.