To me the paper itself doesn't seem to have much texture, and it's not as glossy as most "high-gloss" papers. To me what the Silver Rag surface most resembles is if you took a luster paper and ironed the little bumps so that they're almost flat. It has the same type of "specular" glare as luster paper, unlike the more mirror-like reflections you get on a high-gloss paper.
It's definitely nicer than the traditional glossy/luster papers, and the DMAX is indeed impressive. I still think that for images not requiring the larger gamut/DMAX, the rag papers make for nicer looking prints IMHO.