i use play sand in my ray tank.
it's cost effective, soft, and overall a decent choice.
the only downside is the massive amount of washing you have to do on it, there is an absolute insane amount of dust. took forever to get it off and not have my tank cloudy.
as far as smooth stones, they could be ok. it negates a rays defense mechanism of burying itself and i have heard of a horror story or two of rays playfully tossing around the smooth stones and chipping/cracking aquarium glass with them. it's a risk i personally wouldn't want to take.