A. The source address of SMTP traffic that matches a threat is automatically blocked as BadGuys for 180 minutes.
The configured action is "Tagging," not "Block IP." Also, the filter is for any threat, not specifically for SMTP traffic.
B. The source address of traffic that matches a threat is automatically blocked as BadGuys for 180 minutes.
The action is "Tagging," which registers an IP address with a tag. It is not a "Block IP" action, which would actively block the source.
D. The source address of SMTP traffic that matches a threat is automatically tagged as BadGuys for 180 minutes.
This is less precise. The filter (threat neq no) applies to any traffic that generates a threat log, not just SMTP traffic.