The snake method most certainly does work. It's great for going low and slow on the standard 22 inch kettle while still cooking indirect. You don't need to use the snake method on the Weber Smokey Mountain because the water pan deflects the heat and creates indirect cooking that way.
For a dedicated smoker, you really can't beat the Weber Smokey Mountain. For occasional smoking, I would just stick with a Weber 22 inch kettle - as mneeley says, it doubles as a great smoker.