"The Smithsonian Institution has never used the Book of Mormon in any way as a scientific guide. Smithsonian archaeologists see no "connection between the archaeology of the New World and the subject matter of the book." 
On the Bible:
"....much of the Bible, in particular the historical books of the Old Testament, are as accurate historical documents as any that we have from antiquity and are in fact more accurate than many of the Egyptian, Mesopotamian, or Greek histories. These Biblical records can be and are used as are other ancient documents in archaeological work. For the most part, historical events described took place and the peoples cited really existed." 
Courage and Godspeed,
1. As quoted by Mike Licona, Behold, I Stand at the Door and Knock, p. 16 which can be downloaded free here.
2. Geisler and Brooks, When Skeptics Ask (Wheaton: Victor Books), p. 198., as quoted by Mike Licona in Behold, I Stand at the Door and Knock, p. 13