It seems reformat on paste "reformat block" does exacly the same thing as the smart indent pasted lines. This confused me a lot because I thought turning off reformat on paste wasn't working and I was stuck with broken paste (as you've seen from previous posts, many people have more hassle than help from this "smart" indent and want it turned off). Shouldn't there only be a single setting for this, to avoid such confusion?
For example when I paste the following:
1 The FA Cup
2 Capital One Cup
into Pycharm with *either* of the two settings enabled, it comes out as