I have 2 Traeger pellet grills, and 3 charcoal units - Akorn, UDS, and mini wsm. I love the Traegers and I find the smokiness in the pellet grills to be smoother than the charcoal units. With that said, I also like my charcoal units with my favorite being the mini wsm. You can't go wrong with either. As for pellet cost, I get mine (Bear Mountain) for $10 per 20lb bag.
Traeger 070 & Jr., Mini WSM, UDS, Akorn, Weber gasser, BGE(sold)