PS. I read the thread on the CharGrill Quickset, and I'm really hopeful I'm not subjecting myself to analysis paralysis on this whole thing!!
You're dealing with two different issues - really low temps for meat preservation and higher temps for BBQ - they ain't the same!
You could certainly hang bacon in a WSM and with a very small fire and plenty of water in the pan you could keep it cool enough. However, your talking days of smoke for traditional smoke cured bacon.
Look at the Bradley Smoker (about $349) - it's insulated, electric, and has a smoke generator (variation on a pellet pooper) - it can be thermostatically controlled down to 120 degrees or lower for cheeses and such.
Now these are just suggestions! The cookers most of us use are not really suitable for these really really long really low temp sessions that I think you are wanting. Our cookers are for BBQ.
Smoking and BBQ are NOT the same!
I could be wrong, and I'm sure every other sum bitch on this forum will chime it.
If you're wanting to "hot smoke" 'em then we can set you right up. Even the Bandera comes with sausage hangers.