VOIP,
Nortel designed SMLT to connect to any device that can do IEEE 802-3ad(Link Aggregation). Fortunately we have not had the same headaches as you have with the 470s... (We have about 200 throughout our network.) But if you wish to look at the Cisco line, all you have to do is the same thing you did with the BS470/460s. Configure a MLT on the cisco, and same SMLT on the 8600s.
Personally, I have not tried this yet, but I could test this, as we have Cisco 2950s as well. However, we do run SMLT to servers using Etherchannel So, knowing that it works on the servers... I know it will work with the Cisco as well.
Good luck, and sorry you have had such a problem with the 470 line. I have only seen one issue with them. They soft boot where you loose managment on them for about 5 minutes. It does a soft boot and comes back. However, it never impeeds the traffic to the connections on the box... it only affects the managment of the switch. Nortel's requires us to hook a console connection to the switch and run it while this happens... (Since it is soo random, and does not hit at any measurable rate, we are stuck wondering how far this will take us until we loose the whole switch.