Process first 5 ingredients in a blender or food processor until smooth, stopping to scrape down sides.
Place lamb chops in a large shallow dish or heavy-duty zip-top plastic bags. Pour oil mixture evenly over chops. Cover or seal, and chill 2 hours, turning occasionally.
Soak wood chips in water 30 minutes.
Remove chops from marinade, discarding marinade. Sprinkle chops evenly with salt and pepper.
Prepare a fire by piling charcoal and wood chips in grill. Place food rack on grill. Arrange chops on rack, and grill, covered with grill lid, over high heat (400° to 500°) 6 to 8 minutes on each side or until desired degree of doneness. Drizzle with Chipotle and Cilantro Oils; garnish, if desired.