Could Smart Meters be too Smart?

Having used power monitoring equipment for troubleshooting, load balancing and other analysis purposes (ALWAYS with the consent of the monitored), I know for a fact that a great deal of information about the habits and activities of the residents can be inferred from their energy usage patterns. I also suspect that anyone bent on illegal activity, a covert political agenda, or any other such activity would quickly sort out ways to disguise these activities through modifications of energy usage (i.e., using battery-powered lighting for clandestine meetings after hours, or candles). The real concern would be that someone within the power energy would figure out a way to package the information available and sell it to marketing types, subjecting one to marketing tactics by unscrupulous businesses. Kinda like how all that information collected about your activities over the Internet is currently used...