Soak wood chunks in water 1 hour.
Combine minced garlic and next 4 ingredients, and rub garlic mixture evenly over beef roast.
Stir together dry red wine, red wine vinegar, and olive oil; set wine mixture aside.
Prepare charcoal fire in smoker; let burn 15 to 20 minutes.
Drain wood chunks, and place on coals. Place water pan in smoker, and add water to just below fill line. Place beef roast in center on lower food rack. Gradually pour wine mixture over beef roast.
Cook beef roast, covered, 6 hours or until a meat thermometer inserted into thickest portion of beef roast registers 145° (medium), adding more water to depth of fill line, if necessary. Remove beef roast from smoker, and let stand 15 minutes before slicing.