iPad Pro Apple Smart Keyboard - does it perform this angle?

The Smart Keyboard doesn't magnetise into position for this, but (at least on mine) it folds that way and feels stable.

 

No. If you have followed iPad since the beginning, that position is meant for using the onscreen keyboard which is not necessary with the keyboard cover. If you have your own reasons besides that for preferring that position, more power to you, but you can see with the context of history in mind why Apple would not worry about providing that position with the smart keyboard cover.

 

I can imagine it would be comfortable for using the pencil for drawing. Or even just relaxing to watch a video.

 

I wish it had an official position for this angle for use with the pencil, but I can understand them skipping it for the keyboard cover.

I found 3 configurations that while not fully locked in place, is stable if careful.

Top Config: This is basically taking the media position, where the keyboard hidden, then laying it flat instead. You have to balance it just right so it doesn't fall back or forward.

Middle Config: I attached the Smart Keyboard backwards. This looks like it gives extra support and not all on the magnetic hinge.

Bottom Config: Reversed cover again, and similar to middle, the iPad is more forwards, moving more of the cover over the keyboard. The cover then partially is held in place in the groove above the space key.

I only just figured out the middle and bottom configs for this pose, so I cannot give much feedback on prolonged use. The table in on has a slight texture too, so that helps keep the iPad from sliding for any makeshift Config that requires a perfect balance.