My skin is oily in summer and normal/oily in winter, so this powder has really simplified my makeup routine. Normally I would apply serum, moisturizer (for oily skin), primer, concealer and then F&B and setting powder. That's a lot of work before I even start my makeup! I prefer a natural finish so I only occasionally reach for a fuller coverage foundation like MM.
With FM, all I need is serum, moisturizer, concealer and BP. It takes far less time because I have fewer layers to let dry. FM is slightly brightening on me and provides enough coverage but isn't overly mattifying over my skin. Over F&B, it loses the natural finish I like so much. I prefer translucent powder and NICO as a subtle highlight over foundation.
Try the smoother; if you skin starts off less dry you may not find FM so matte.
I prefer it without foundation too. It's just drastically formal with foundation. Actually, one thing I haven't tried is using it over the Skin Smoother. That might actually enhance it for me and my dry skin in just the right way......