Not true. Wave soldering was used a lot when surface mount was introduced. I seem to remember the pads were different. For wave they need to be oversized. For reflow they can be smaller than the component pad in some cases.
There is some info here: http://www.kemet.com/kemet/web/homepage/kfbk3.nsf/vaFeedbackFAQ/64F3744BFC060EE985256BCD004EBC13/$file/F2105A.pdf
Here is an AVX data sheet which gives wave and reflow land patterns.