Viv, I eat Smart Balance all the time. It is technically a margarine, but doesn't contain trans-fatty acids and hydrogenated oils, which is the reason you should stay away from margarines. But to me, using Smart Balance is just like using oil. Supposed to be good for increasing good cholesterol while decreasing the bad. Plus, I think it's quite tasty. Eat up!

As to glycerin, I don't think it's an issue. It should not affect blood sugar. Many low carb products contain it. Though I've read of some people reacting to it, most of us do fine with it.

Hope that helps!