Yes smell, that's definitely a more accurate descriptor than taste. Although taste and aroma are of course peas in a pod.
I am not convinced that the Terps are more important than the cannabinoids I think they work together in harmony. To be honest this opinion is really Dr Russo's opinion and as he is much better educated and intelligent as I, I'll just go with what he hypothesised. His 'entourage effect' theory where he states all parts work together as a team to effect potency, benefit, flavour (aroma), growth traits, pest and disease resistance and so on.
The last point brings us back to terpene production of MJ. In a couple of discussions on YT Dr Russo and a few growers discussed higher terps in plants that had experienced stress which links together with Man o Green's (I think it was Man o Green) experience with his UVB. UVB does stress plants and MOG states he noticed higher terp levels since employing UVB in his grow. It would be interesting to know if the higher terp was of one kind ie Limonene or Myrcene, this could then be correlated to terps that the plants put in overdrive when faced with physical stress. It would also be interesting to know what terps are produced when the plants are subjected to disease, parasitic or fungal attacks. There is also anecdotal evidence around that Myrcene is higher when the plant suffers from powdery mildew.