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I think it would be worth the money. The only reason I don't have one is I am currently unemployed and the greenbacks are rather scarce! I do sorta the same thing with foil. I scrape all the charcoal to one side and then droop foil over the top rack down to the charcoal grate. I use a foil mini bread pan and partly fill it with wood pellets, cover it with foil, poke several small holes in the foil and set it down on the hot coals. I a few min. you have a really nice smoke flowing, I intend to get a Smokenator eventually but for now I love the results of my experiment and there is very little expense involved! I have done a turkey breast this way and it was nothing less than awesome! I put a foil pan filled with cider below the turkey for steam and to catch the drippings. Likely not quite as good as the Smokenator but it works for now. Am doing a chuck roast right now. It's almost time to eat!
Update to previous post - I got a Smokenator for Christmas. I have used it a number of times since then and my opinion is if you have been putting off buying one - DON'T! I REALLY like it! The only downside is the limited amount of meat that will fit on a Weber for smoking. The results were however wonderful and it's SO easy to use!
I have one. I did the Thanksgiving bird on it, a prime rib roast, a loin roast (below)...maybe a few other short runs and it worked as advertised. I would not recomend it for longer cooks - too much babysitting for that. But following the directions provided it does exactly as described.