I'll throw out another option that I have experience with and that is to use an areovator. Expensive to purchase, but easy enough to find for rent. I own a small towbehind one and it will smooth and loosen up the soil at the same time. A areovator works by vibrating tines that penetrate the soil as it is towed behind. The tines are about 6in long and mounted on a rotating shaft in a concentric manner. As the shaft spins the tines just sort of roll along, vibrating from side to side. This movement helps the tines penetrate deep into the soil, fractureing it in every direction, and the vibration will help knock down the high spots. I use mine for planting grass seed. I broadcast the seed before running over the area with the areovator. Best method I have ever found for overseeding a old lawn, and works pretty durn good for a new lawn as well.