My grandma was a San Francisco native and I watched her eat a s... ton of octopus. And it was all entirely raw. Sashimi so to speak and while this doesn't help on the surface it does. The point being that if it's great raw, and I am just throwing out a wag, my gut says don't over cook it. I would think very low temps and smoked to 140ish. Like shrimp it will get to rubbery if over cooked. Sounds amazing really.
Side note, being Jewish I have eaten a ton of smoked salmon, but never smoked one myself. These people we are hanging with have eaten lots of it. They are from upstate ne Pennsylvania. I have to give it a try.