I know that when I do my steaks this year I will be doing them on the smoker after watching all these other people do them. I am going to be doing a reverse sear. Basically smoke the steak for 45-1.25 (All depending on how big the steak is) then get the smoker temp up there really high an and sear them at the end. Do a search for reverse sear and you will find all kinds of yummy posts.
DO NOT OVER COOK THEM smokin a good steak is easy. I would just rub with salt,pepper and some garlic and then run your smoker at about 240-250° and then take them to about 130° or 135° for rare to medium and then enjoy them. Now if you want a real treat get a rib roast and smoke it........Pure Heaven on earth.