I have done meat in a stick burner, electric smoker, charcoal grills (that I coax into a smoker), pellet grill, and directly in the oven or a roaster using liquid smoke.
Some people were happy (maybe they were being nice?) with the liquid smoke braised meat. I wasn't happy as using the liquid smoke gave me a taste reminiscent of the smell of an ashtray and the meat gets a mushy consistency from the braising.
I've had many compliments for the aroma, taste, texture, and appearance of meat from a smoker.
For a butt I start my meat on a smoker, but once it gets to wrap point it goes in the oven, but I don't braise it. Just keep the heat moderate to let the butt progress to the probe tender level. Once wrapped, why are you smoking? The wrap stops the smoking.
I believe the science comes down to the Maillard reaction. Meat in the smoker takes on an enhanced flavor both from the smoke as well as the Maillard that is much deeper than simply pan searing a hunk of meat before braising it to mush.