Blender got updated recently, new features, new stuff, yay.
But as it often is with Source, when something new is added, something old fucks up.
With the new update, now upon import of any SMD, you will in 90% cases get this shit:
Well I told you before that SMD is an inferior absolute peasant format and DMX is master race, but in case you need to import some decompiled crap, worry not - the fix is possible.
First thing you gotta do on import is to check the "Preserve SMD Polygons & Normals" box:
Now the imported model will look okay but that's a lie - all the vertices are duplicated now, and it is actually twice as highpoly as it should be, and is absolutely uneditable and undetriangulatable.
The way to fix this is to go to Edit Mode, select the whole thing by pressing A, then click "Remove Doubles" on the left panel.
And that's... not over, now the model looks