Waste of a good ribeye, however, if you do it to a chuck steak... I hear it is the bomb!
One guy at work does it all the time with cheaper cuts and they come out stellar!
You do what you have to do, so you can do what you want to do!
Ole Hickory Ultra Que 2
18" Weber OTS
Primo Oval XL
NB American Gourmet offset smoker
Big Chief Smoker