I cook my tenderloins on my Weber Gold that is set up for indirect heat. I sear the loin for about 5 minutes on each side in this fashion, let it sit for 2.5 minutes and then without turning it over, rotate it about 45 degrees and cook another 2.5 - minutes over hot coals. Then repeat on the other side to set your grill marks.
After searing all sides, I move the pork tenderloin over to the cooler side of the grill and toss some wet chips over the coals and cover the grill. With this method, I have not dried out a tenderloin in some time.
As for just cooking over high heat, I'd advise against it because by the time the center is done, the outter portion will have dried out.
After smoking two fatties yesterday, I am baconned out.. ;p