not sure but it might be easier if you converted the 5cd's to dvd (there's a script on opensuse.org to do this)
then the channel type would be yast2 and if you kept the dvd iso on a partition "base url" would be the full path name of the iso.
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With smart, repositories are named channels. So the command to handle Installation Repositories is smart channel.
Add your SUSE Linux CDs as installation repository earth:~ # smart channel --add /media/cdrom
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you could add the online repository as a channel http://ftp.opensuse.org/pub/opensuse...repo/oss/suse/
and not play with cd's