I smoke eye-of-round often ... slice it thin and it'll make the best roast beef sandwiches ever.
Because it is lean, just smoke it with 2 oz. of wood at 275* (or whatever your highest setting is), and cook to the same internal temp that you'd cook a steak to for your desired degree of doneness (i.e., rare=135*). Then let it cool and slice it thin, preferably with an electric slicer. The colder the meat, the better you'll be able to slice it thinly.
As Tom said, you don't cook it low and slow, but you can still enjoy it as "smoked roast beef." It puts that slimey, salty deli-style roast beef that grocery stores sell to shame.