To configure SmartAccess, two key components that need to be set up are XenDesktop policies and StoreFront server groups. XenDesktop policies are essential because they control access, settings, and other behaviors that can be applied to different user groups or machines. StoreFront server groups are necessary because they aggregate and present available applications and desktops to users, ensuring seamless access. Neither Configuration logging nor XML Trust is directly involved in the core configuration of SmartAccess.