The temperature has two important implications (as far as I've concluded)
1) Above 180, you're going to isomerize compounds and add bitterness. Not as much as higher temps, but you will.
2) Higher temperatures extract heavier molecules. Any coffee or tea aficionados experience this all the time. I hate coffee or tea made with boiling water. If you look on packages of loose leaf tea, they actually suggest using water between 180 and 195 degrees (I live in CO so this ends up being my boiling temp anyways!).
"Heavier" molecules tend to be earthy, bitter, tangy (hay flavors as well) and bitter in tea. While "lighter" molecules are more floral, fruity, and only slightly grassy. Extrapolating this to hops, I think, is possible. I've noticed that Amarillo, Citra and NS really came through in a SMaSH steep, but my Apollo and Simcoe did not. I'm not saying the Apollo and Simcoe tasted like nothing, but they were much smoother than normal. The Apollo was delicious, which is not anything I've heard someone say and the Simcoe was a remarkably smooth shadow of its normal self. I applied the simcoe steep to a heavy American strong ale and the results were the same.
Just my extra long two cents