The kid was Blue Beetle, though a poor version of the armor. A couple of years ago they released a teaser for a new Jaime Reyes live-action show, the armor was A LOT better. The armor is more streamlined then the fugly thing in "Booster"
The power-armor Blue Beetle came to the comics back in 2006, so it's not like Smallville just ripped off Iron Man. Iron Man isn't the only power-armor hero.
As for the in-helm camera, a couple of shows have picked up the Tony Stark in-helm view for their shots (Stargate Atlantis being an example). The only render I like more is in the comics (with Tony + Extremis) were we see Tony standing in dark a room doing stuff (because it's all in his head).
Actually, I really dig Jaime Reyes Blue Beetle in the comics. It's a shame they cancelled his series, though he does belong to groups.
Beyond the fact that it's a powered armor and the in-helm camera in Smallville, they are different. Jaime gets the alien scarab that burrows into him. He deals with trying to keep the armor's AI from using lethal response, being a young kid, learning the alien's language, etc.
Different tones, different themes, different darkness, etc. So it's not a rip-off of Iron Man.