Good question, I've never smoked a pheasant. The reason is there's no fat. A chicken has a lot of fat under the skin while the pheasant has none.
I typically slice the meat thin anyway to remove shot, dust in flour, and pan fry the medallions in butter, then make a reduction sauce from the drippings.
If I had a clean breast with no shot damage to work with, I'd brine for 24 hours, then smoke at 200* for maybe an hour and finish in a hot oven. I just wouldn't leave it in the smoker too long and risk it drying out. And I wouldn't cook it to anything more than 160 internal. I've done this with grouse and it turns out great. So it should work for pheasant too.
Let me know what you wind up doing and how you like it.