As a pro member, what are the particular DNS settings that I need to set up my SmugMug account properly?
You need to make sure to setup both the CName AND the DNS. You can do this in the SmugMug control panel, settings tab.
As outlined in the SmugMug help file:
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To clarify for everyone. CNAME points to another address, A Record points to an IP address. They are used for different reasons. Essentially A record points to a host and a CNAME is a forwarder. You cannot have a CNAME and A record with the same name (www) because it would be a conflict.
What level of smugmug is required to utilize the custom domain? I am not a customer yet but am shopping.