05, 06 and 07 Shift bar is suitable for any 5 line C kite. It is basically the same as the old style North 5th Element.
The 05, 06 and 07 Shift bars are not really suitable for SLE kites as the depower throw isn't long enough to make full use of the depower, although it can still be used. You could use the early shift system for example on a North Rebel but you won't be able to use all the depower that the kite has as the bar travel isn't long enough.
The 2008 bar comes in 2 guises IIRC. You have the standard shift (ie non smart loop) basically the same as the 05, 06 and 07 with a standard depower strap and the updated bar and bar float etc
You then have the smartloop shift system. It is a 5 line bar with the depower under the bar, but has a stopper so you can adjust the bar travel - so if you were using it on a C kite you would have the stopper quite far down, if you was using it on a SLE (ie Alliance, Rebel etc ) you can move the stopper away and have loads more depower.
The front lines, as mentioned, form a Y. The 5th line has a stopper on it that buts up against this Y which keeps the front lines and the 5th line above the Y all the same length. This is needed as the 5th line on the Naish Torch, Alliance, Rebel and some other kites have to support the shape of the leading edge.
So going back to your original question, the Smartloop Shift System can be used on other 5 line kites 1. there is nothing special about it thats stops it being used on other kites and 2. it has the long bar stroke required by high depower kites. The only other problem is that it doesn't have any o shit handles so if you wanted to use it on a 4 line SLE you could remove the 5th line but the only safety you would have would be reliant on the full depower that you get when you let go of the bar.
The solution to this would be to fit O shit handles, which isn't hard to do.
What advantages does the Smart Loop offers compared to the original depower strap ?
Basically It allows easier adjusting of the power on SLE kites. With SLE kites you need longer bar travel, but this means that if you use a conventional above the bar depower strap it can be really hard to reach, the Smartloop puts the depower below the bar where it is easier to adjust.
If you look at a Best Waroo bar the depower strap is quite high up and it can be really hard to reach it.
If you nave a SLE kite then its really worth while, if you have a C kite like the Torch like me then I prefer the standard strap system as there is less cluter at teh chicken loop for unhooking and I can reach the strap really easy as the bar travel isn't that long
Hope this makes sense and hopefully I've got it right and am not talking out of my arse