It will do a nice job on jerky but you have to open the door a couple of times to let the moisture out. Look at the Cookshack forum. There are some good threads on making the jerky in the Smokette.
BTW, as I mentioned when you were asking about it earlier, a little wood goes a long way. A golf ball sized piece (about 2 oz) is all you'll need.
Don't expect a smoke ring on the regular BBQ meats without fooling around a bit. The wood smolders and doesn't produce enough nitrates (or is it nitrites) to create a smoke ring. If you put a charcoal briquette in the wood box it will give you a decent smoke ring.