It was a game of frustration for the Saddlers as Macclesfield Town progressed to the third round of the Carabao Cup on penaltie following a 3-3 thriller in normal time.
A late goal from substitute Tyrone Marsh sent the game to penalties after Walsall had come from two goals down to lead 3-2.
It took the visitors 10 minutes to open the scoring but it came with a slice of luck. Malachi Napa danced his way between two Saddlers defenders with his shot then deflecting onto the post with Chris Dunn left stranded. Grimes was then the quickest to react to the loose ball and, with the easiest of tap-ins, the central defender gave Town the lead.
As the clock ticked over the 25-minute mark, the visitors doubled their advantage, this time through Smith. The striker picked the ball up just outside the box and his dipping effort caught Dunn off guard, making it 0-2.
With 33 minutes on the board, the Saddlers got what they deserved, a route back into the game through Kieron Morris.
The winger, who was lively throughout, received the ball 25 yards out, turned on the spot and unleashed a cracking effort which found the top corner of the Town net.
In the second half, it was just after the hour mark when the tie turned on its head.
Andy Cook levelled things up for the Saddlers as he was initially brought down for a penalty on the left of the box. He dusted himself off, picked up the ball to take the penalty, only for it to be saved. However, similar to his goal on the opening day, he was the first to the rebound and tapped it into a gaping goal.
Just a minute later and the comeback was complete, this time Josh Gordon providing the finishing touch.
After a delightful cross to the back post from Kane Wilson, Maz Kouhyar kept play alive at the back post and the ball rolled kindly for Gordon, who was unmarked three yards out, and the striker finished calmly into the empty net.
But the Saddlers were left to rue their missed chances just as the additional time was shown. Substitute Tyrone Marsh whipped a dangerous ball into the box and it missed everyone and found the bottom corner.
With the game tied at the end of the 90, it went to penalties.
Unfortunately for the Saddlers, three of the four penalties that were taken were saved by Kieran O’Hara in the Town goal and the cup dream was over.