Translation:This pillow is soft, nice, modern, cheap and intelligent!
Must be the kind of pillow the óvónö is sleeping on when she is not flying around chimneys or sitting on lamps.
Yes, it would be "a párnám". (The definite article pretty much always goes along with these forms, since "my pillow" is a definite noun.)
Usually, okos is the dictionary translation for "smart", and intelligens for "intelligent". I'm not sure about the difference in meaning of those terms, though.