There are are large number of SMF records, varying in complexity.
If the "raw" data is/can-be-made available instead as formatted reports/files that will make your task a good deal easier.
As enrico has pointed out, the "sort" utility at your site may well have built-in functions for understanding various parts of the SMF data and be able to produce what you require in a report/file format.
Overall, the total time expended will (should) be less if the data can be formatted on the mainframe and downloaded to you.
If all the data you need is already reported upon, then there is not a great deal of effort expended on the mainframe, just some stuff to collect it all together and to "bullet-proof" it, so they don't give you inconsistent data.
If some stuff is not available, that does need more effort on the mainframe to produce it.
The least effort on the mainframe is to give you all the data as a hex/character "dump" and let you get on with it, but this is also the least "stable" solution, in that you have to get translations right, which are done "automatically" on the mainframe (to display the date/time for instance).
The reports/files would be entirely in "character" format (numbers, letters, that sort of stuff) which would (should) survive EBCDIC to ASCII translation without problems. You then get to process the text/numbers. You'd still have the situation of records of the same type containing "variable" amounts of data, in certain cases.
The 102 data seems to be complex, but it will depend on what you need from it as to how reliable the initial output is.
Bear in mind that especially for any new reports, the output you are given might not be correct, but that is part of the fun of testing anyway
If your site has a package which does SMF reporting, the process should be smoother.
I can't help feeling that this project is being done on sufferance from the mainframe staff, and that you currently have the dirty end of the stick. There seems to be a whole chunk of "data analysis" missing which is replaced by you "looking at the data" and taking it from there. However, if that work is not done, I don't see how it is going to fly without them just giving you all the data. You'll get countless iterations of "this data is missing from the file for that record-type" if you do the "as you go along" version.
I hope I'm wrong.