SSME is just an alternative way of applying sheson's memory patch for Skyrim. As the ability to apply the memory patch is now included in SKSE 1.7+ you don't need to use SSME.
However I believe some people have had better results with continuing to use SSME (I've no idea why), so it's still around...
BTW, in case you didn't already know, the memory patch is activated by adding a few lines to your SKSE.ini file, if you don't have one or have no idea what I'm talking about but you do have the latest version of SKSE, you can download a http://www.nexusmods.com/skyrim/mods/51038/.