Yes, soft and silky smooth, but if it's too warm it gets soft like on its way to being runny. It should stand at firm peaks when you raise the beaters. 
I just made a batch Friday and it turned out great! I wouldn't call it softer, but smoother. I used this recipe:
http://cakecentral.com/recipes/5453/the-well-dressed-cake-swiss-meringue-buttercream-with-variations
It took a very long time to get it to stiff peaks, but it was worth it!
i put bags of frozen peas around my bowl while i am beating to help keep it from getting too soft
I agree -I do the same in warm months. After I beat the meringue for 10-12 min., it's still slightly warm, so I add my butter right out of the fridge which speeds up the cooling and cuts down on chilling the bowl. And the longer I beat it after the butter is incorporated, the warmer and softer it gets (not a good soft)
i put bags of frozen peas around my bowl while i am beating to help keep it from getting too soft
I agree -I do the same in warm months. After I beat the meringue for 10-12 min., it's still slightly warm, so I add my butter right out of the fridge which speeds up the cooling and cuts down on chilling the bowl. And the longer I beat it after the butter is incorporated, the warmer and softer it gets (not a good soft)
I add my butter straight out of the fridge as well.
i put bags of frozen peas around my bowl while i am beating to help keep it from getting too soft
I agree -I do the same in warm months. After I beat the meringue for 10-12 min., it's still slightly warm, so I add my butter right out of the fridge which speeds up the cooling and cuts down on chilling the bowl. And the longer I beat it after the butter is incorporated, the warmer and softer it gets (not a good soft)
I add my butter straight out of the fridge as well.
Someone mentioned doing this before. I'm going to have to try it.
On my last batch of SMBC, I heated the egg whites to 170 degrees. So I took two ice packs and put them around the bowl. The meringue was cool in less than 3 minutes. I'm going to do that again and use the butter straight from the fridge. It sure does beat having to wait for it to come to room temperature. 
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