You basically have 4 choices:
1. Cold smoke: Great color and flavor. You have to have a good smoke generator, meaning equipment that will produce a good quality of smoke. One downside is the product does not firm up as much as with other methods, so the bacon is harder to slice.
2. Hot smoke to 135°/140°: This finish temp produces bacon that is just shy of safe to eat as is and the texture is firm enough to slice easily. Not as smokey as cold smoked.
3. Hot smoked to 145°/150°: At this internal the bacon can be eaten without further cooking, or if it is cooked, it does not splatter as much however it is easily overcooked. The texture is firmer than the first two methods, and it slices wonderfully. This is good if you like your bacon a little less done, like this:
4. Cold/Hot combination: By doing a double smoke you get the ultimate control over flavor, color and texture and is my favorite method. It takes more time because following 3, 4, or 5 hours of cold smoke the slabs should go back into the fridge for at least 4 or 5 hours, or overnight. Some people let the bacon rest longer, and some will hit it again with another round of cold smoke, then a another rest, then a hot finish. And since you can choose how far to take your hot finish you can pick any temp from 135° to 150°, or make some of each.
The next question will be dry curing or immersion curing.... I prefer a dry cure which is slightly lower in salt than your average recipes, but again as long as you stay in line with your curing salt, you can tickle the salt, sugar, pepper or other signature seasonings to your liking.