This template is very easy to modify. I have not used “Smart Objects” but instead you should just paste the image in the layer folder (marked in red) named “Paste image here”. The area around is masked so just move/resize image if needed to fit the space properly. Images are NOT included. You can play with adjustment/grunge layers to get different effects. there’s a layer called “page elements” with parts of the poster that you can enable/disable for subtle changes in the look. Also, you can disable the “grunge” layer for less “dirty” look. Lastly, you can disable the “Adjustment” layer for less color effect, and more blue-ish look.
Fonts used: carnevalee freakshow (http://www.dafont.com/carnevalee-freakshow.font) Adobe Caslon Pro (http://store1.adobe.com/cfusion/store/html/index.cfm?store=OLS-US&event=displayFontPackage&code=1712)