But even Smith, who spent over a decade in the Ibrox hotseat, could not have envisaged all that McCoist has had to endure.
Craig Whyte, administration, pay-cuts, huge fines, a signing ban, liquidation, a shadowy takeover, Charles Green, the departure of virtually every senior member of his squad; you name it he has had to deal with it.
It is something of a minor miracle that he will take charge of his 100th match when Rangers play Arbroath in an SPFL League One match on Saturday.
Given all the obstacles that have been put in his way - by those both within and outwith the Glasgow club - during his tenure who would have blamed him if he had decided his future lay elsewhere?
He is not worrying where his next meal is coming from. He has a young family he dotes on. Myriad other opportunities, inside and outside of football, would have presented themselves if he had moved on.
Yet, McCoist does not, as the saying he inadvertently coined in an off-the-cuff comment to reporters at the height of the Ibrox club's troubles last year, do walking away.
His love of the club he grew up supporting as a boy in East Kilbride, and then represented for years with such distinction as a player, remains undiminished.
Despite all the difficulties he has been through, "Super Ally" is still as determined now as he was when he was appointed manager to bring significant success to Govan.
That has, of course, so far eluded him. The only trophy Rangers have lifted during his reign was the one they received for landing the Third Division last season.
And given that they had a full-time squad of handsomely remunerated players in a part-time league, that was hardly the headiest achievement in the 141-year history of the club.
McCoist accepts himself that he still has to prove himself as Rangers manager. As adored as he is by Light Blues supporters, many are sceptical of his coaching abilities.
There have been more crushing disappointments, humiliations even, than glorious triumphs in his century of games at the helm.
Since first stepping into the dugout for an SPL game against Hearts at Ibrox on Saturday, July 23, 2011, he has suffered his fair share of heartbreak.
After less than a month as manager his side had crashed out of both the Champions League and the Europa League in the qualifying rounds to Malmo and NK Maribor respectively.
Rangers would go on to lose to Falkirk away in the League Cup and Dundee United at home in the Scottish Cup. McCoist's track record in the cup competitions is far from impressive.
Last season they lost 3-0 to both Inverness Caley Thistle at Ibrox in the League Cup and Dundee United at Tannadice in the Scottish Cup.
The defeat to Second Division rivals Queen of the South in the Ramsdens Cup at Ibrox was, albeit they went out on penalties after extra-time, painful in the extreme.
As were the results his young and hastily- assembled team slumped to against minnows like Peterhead, Berwick, Annan, Elgin City and Stirling Albion in the fourth tier in the 2012/13 campaign.
"Ally must stay!" is the mantra of many website warriors who support other clubs and snidely deride his efforts as Rangers manager while hiding behind assumed identities online.
But those capable of rational thought realise McCoist has not had the opportunities his predecessors have had.
The Glasgow institution went into administration in his first season in charge, players had to take massive reductions in their salaries and then, after the club went into liquidation, most left.
Last season Rangers had no pre-season to prepare for the new term and their manager forced to put his faith largely in untried teenagers from the youth ranks.
He was unable to sign players due to the registration ban imposed by the SFA for the non-payment of over £13million of NIC, PAYE and VAT during the disastrous Craig Whyte era.
McCoist deserves the chance to show what he is capable of as Rangers manager without any distractions and now, finally, appears to be getting that.
The ongoing boardroom unrest does not help his cause. But many are intrigued to see how he fares with a strong squad at a settled and solvent club.
The signs so far this season are encouraging. If his team continues to excel - and it remains an if - he will be manager for another 100 games to come and more.