Yes and no. The questions leading and leads to no, however there's nothing that says that your leading no can not be a clear yes. There are several issues involved that make baking the only sure way to make it work, if you don't want to limit the things that you can do. However baking does NOT preclude the end result you want. It us possible to hint the cleanup process to keep points in certain frames and kill others, this is a what i suspect the smart bake does.
So now that we have the question if its possible or not of the way there remains a question of can you do it inside maya with current tool set without a hustle? Then the answer is depends, certainly you can do it because i have been doing just this since maya 7.0 however my solution is not such that you can use it and im not really using anything newer than maya 2009 now. But is the existing tool set such that you could slave it over, dont know i haven't got a need for this but ill take a quick look at this.