Scottie, by my reading of regulators' intentions, they are...

Scottie, by my reading of regulators' intentions, they are itching to take publicised action against SMSF just to show the big stick in action. Then you have the auditors who are being constantly reminded of their obligation to confirm the funds' running is above board, result is any obvious funny business puts the auditor in a hard place. Fail to find a suspect deal, fail to report one and risk name and shame, let alone a legal attack.
Then you have this government who want all super to be held in industry funds, they will be quick as a flash to jump at instances of abuse of the system to drive a tightening of who can run an SMSF.
The thing about SMSFs is they do provide a degree of flexibility, buts its to be aimed at delivering a retirement income, not making life easy today.
Play straight on SMSF, its not that hard