Don't know how I missed this.
I love mine, and no it does not overwhelm with smoke. It's fairly airtight and the main smoke is excaping through the top vent. Most of the smoke stays in the smoker except..... when you open the lid which should not be often.
GET IT. GET IT. GET IT. Weber only in this size. You will not be disappointed.
It does smell (I think good). But if anyone around you has a wood fireplace (I love the smell of those as well) they smell more. In terms of smoke (not the smell but the fog or look) very minimal.... usually unnoticeable.
http://www.virtualweberbullet.com/ .... see what those guys say.
That site is awsome and has all kinds of information on how to smoke (cookbook\cookie cutter type procedures) specific to the weber.
02 bought one after trying my pulled pork (that sounded creepy) and ribs. I think we've inpired another coworker to pick one up, and yet another who already had one is starting to use it because of the site.
LOVE IT. you must do it.