I just finished cold smoking some beef bacon that has been curing for about a month. I will post that information with pictures in a day or two.
Cold smoking in a smokette is a process that requires much more effort than people have come to expect with a CS. As you say turning up the thermostat every few hours for a half and hour etc.
I have a cold smoking attachment for my CS105 which uses an independent smoke box that is charcoal fired that alleviates most of that hassle. With the beef bacon I tried that box in my smokette. The short of it is that I had to use an ice tray in addition to keep the temperature within cold smoking range, generally less than 90 degrees. But I did not have to continually tend the the smoking operation. So I would say that this is the direction to head.
As described in the old books, cold smoking is a combination process of drying and smoking which takes days or weeks. With a CS you can separate the two. I have made it a practice to combine CS smoking and drying in a '70s dehydrator which runs at about 85 degrees at its lowest setting.
After I take the meat out of the cure, I temper it for a few hours in the dehydrator, then transfer it to the CS for a couple of doses of heavy smoke, then back to the dehydrator until I think it is where I want it dry wise, which still is more moist that the old fashioned way, but I have a refrigerator and a freezer, and it is really the cold smoking flavor and texture you are looking for as opposed to a typical hot smoke.
The big smoke box just barely had room in the smokette and produced too much heat for the space, so I shall attempt to build a similar but smaller unit out of a tin can or something. Once I do that I will also post the results.
Give it a shot cold smoking is an art that gives you flavor and texture results you cannot achieve any other way.