  Angle resolved photoemission (ARPES) data from the electron doped cuprate
superconductor Sm$_{1.86}$Ce$_{0.14}$CuO$_4$ shows a much stronger pseudo-gap
or "hot-spot" effect than that observed in other optimally doped $n$-type
cuprates. Importantly, these effects are strong enough to drive the
zone-diagonal states below the chemical potential, implying that d-wave
superconductivity in this compound would be of a novel "nodeless" gap variety.
The gross features of the Fermi surface topology and low energy electronic
structure are found to be well described by reconstruction of bands by a
$\sqrt{2}\times\sqrt{2}$ order. Comparison of the ARPES and optical data from
the $same$ sample shows that the pseudo-gap energy observed in optical data is
consistent with the inter-band transition energy of the model, allowing us to
have a unified picture of pseudo-gap effects. However, the high energy
electronic structure is found to be inconsistent with such a scenario. We show
that a number of these model inconsistencies can be resolved by considering a
short range ordering or inhomogeneous state.
