Pretty much agreed. Wood smoking is of course better but it's a lot more work. The true purist, or someone doing it professionally, would go all wood. Joe Schmo like us can still get great results with a smoker that's fueled by propane and flavored by wood.
I have smoked meats using a bunch of different methods. When I was a kid we had sheds for cold smoking fish by the thousand. You could smell those suckers half a mile away if it was windy.
The main smoker I have now is a relatively small propane unit:

That trapezoidal pan near the bottom is solid cast iron for wood. It has a lid with holes for limiting the oxygen to the wood. I use mostly 2-3" hardwood chunks. Type depends on the meat in the smoker. The pan right above that is the water pan.
This particular unit has its advantages and drawbacks. Advantages are that it keeps a super stable temp so long as the environment does not change. It gets itself up to temp in minutes and stays there for the most part.
It can be affected by wind or rain because it is mostly stamped powdercoated steel. Not a lot of mass to it. On really windy days I have put up plywood surrounding it as a wind break. I got some granite landscaping blocks and lined the bottom with it to help with heat retention/stability. That helped a lot.
I modified mine by putting a needle valve in line with the propane tank. This allows me much finer flow control than the stock valve did. That lets me run it at much lower temps. Before the mod I could only keep it stable as low as 170 or so. With the mod I can keep it stable at 110. 110 is great for dehydrating and I put a lot of fruit slices in there. I cannot cold smoke in this unit because of the direct type of heating - you can't make wood smoke at 110 this way.
I can fit 45lb of pork in there in a single run. Usually don't do that much, of course, but in the past I have and vac sealed it all for the deep freeze.