I've done a few salmon down around 155 and never had problems with it getting the chips smoking. 'Course that was in the winter with temps in the upper 30's.
Seems like if you put the wood in right away, while the element is on for a while it'll get them going fine at lower temps, then just make sure you keep enough in there that they don't go out completely.
if you're looking to cold smoke, it should be pretty easy to use a dryer vent and duct the smoke from the MES into a box. I plan on doing that one of these day, I just haven't found the time yet. Then you have the best of both world, and for $50 I hardly see where you could go wrong.
Thanks guys for all the replies. I'm looking to do some cold smoking. Mainly fish but possibly some bacon and jerky in the future too.
I have a 24" smoke vault already, and I've done fish on their and the wifey loves it, just wants some "real" smoked tuna. I had posted on here for some ideas a few days ago and someone mentioned a hot plate to heat the chips. I've been thinking about it and I just don't know how much heat the hot plate will actually throw and if it'll be too much to cold smoke.
If it's still available I may very well grab it though.