A SMALL TWIN ENG ACFT ON APCH AT 1000 FT HAS AN EMER DUE TO SMOKE IN THE CABIN CAUSED BY AN ELECTRICAL BUS MALFUNCTION. ON EMER LNDG PASSED WITHIN 200 FT VERT AND 1000 FT HORIZ OF DEPARTING ACFT.

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ON APCH TO TUNE ARPT; I LISTENED TO ANOTHER ACFT ANNOUNCE ON UNICOM TKOF FROM RWY 19. APPROX 1 MI FROM THE DEP END OF RWY 19; MY COCKPIT BEGAN TO SMELL OF SMOKE OR BURNING/HOT ELECTRICAL SHORT. SINCE I WAS SO CLOSE TO THE ARPT; I ELECTED TO KEEP ELECTRIC PWR ON LONG ENOUGH TO DROP THE GEAR. AS I WAS LOWERING THE SPD OF THE ACFT TO DROP THE GEAR; I NOTICED THE ACFT WHICH HAD TAKEN OFF OF RWY 19; AND I TURNED A FEW DEGS TO ENSURE THE OTHER PLT WAS CLRLY AWARE OF MY INTENTIONS. HE CALLED ON THE RADIO AND COMPLAINED THAT I WAS BELOW THE NORMAL PATTERN ALT. THIS WAS NOT A NEAR MISS; BUT TURNS WERE MADE BY BOTH ACFT TO INCREASE THE DISTANCE AT PASSING. AFTER GETTING GEAR DOWN LIGHTS; I KILLED THE MASTER; AND LANDED AS QUICKLY AS I COULD. MY TURN FROM DOWNWIND TO FINAL WAS SOMEWHAT STEEP AND AGGRESSIVE; USING WING LOADING TO KILL ALT AND AIRSPD; IN ADDITION TO FULL FLAPS AND SLIPPING. THE LNDG OCCURRED WITHOUT INCIDENT. AFTER TAXIING TO THE TIE-DOWN AREA; I TURNED ON THE ELECTRONICS ONE BY ONE; TO ATTEMPT TO ISOLATE THE PROB. THE #2 COM CAME UP; BUT FAILED WITHIN 1 MIN. THE STROBES BREAKER WAS FOUND TO BE 'POPPED.' I CONTACTED AN A&P AND CONFIRMED FLT SAFETY AFTER KILLING PWR TO THE ABOVE COMPONENTS. RETURN TRIP WAS UNEVENTFUL EXCEPT IT WAS DISCOVERED THAT THE ACFT HEATER AND AUTOPLT HAD FAILED ALSO. THE ACFT HAD BEEN FLOWN THROUGH VERY HVY RAIN JUST BEFORE THE ABOVE EVENTS OCCURRED. IT IS SPECULATED THAT WATER INTRUSION CAUSED THE ELECTRICAL PROB. PORTIONS OF THE NOSE BAGGAGE COMPARTMENT WERE FOUND TO BE WET. SOME BAGGAGE WAS WET. THE RADIOS ARE LOCATED IMMEDIATELY BEHIND THE WET AREAS. THE MECHANICAL ISSUES (AND ELECTRICAL) WILL BE CORRECTED BY THE A&P AND RADIO TECHNICIAN. WATER INTRUSION WILL BE ADDRESSED AND CORRECTED AS NEEDED.