It shouldn't be difficult - one smiley per emotion. You can get rid of all the character smileys, as they do nothing but increase load times. Being angry is being angry, and there aren't a million ways to do it, so there's no need for a million angry smilies. Take a single happy smiley, a single sad smiley, a single angry smiley, a single suprised smiley, etc. I'll show the ones I think actually serve a purpose.
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:o
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The rest are just for fun or are redundant. Adding extra smilies just for fun is fine if you have the space. There's not much need for several of the same thing though, with only a color swap.