Are they loins or backstraps? (Inside or outside the ribcage?) Loins are a little more tender and have a little more mass than backstraps, so will do better with a reverse sear or just smoking to desired doneness. I like them medium rare like beef tenderloin. They do dry out quickly so be careful and keep an eye on the temp! Backstraps aren't too different and I've never tried to grill or smoke them, but they are tougher and I know they benefit from a braise. So maybe low and slow? Either way, my personal preference would be to skip the bacon. I love the flavor of venison and don't get it very often, so I try to avoid masking it with strong flavors like bacon. But if I were a better hunter and had a freezer full of venison every winter I'd probably feel differently.