Had a Masterbuilt and it was a total POS. I won't get into why unless someone really wants to know.
Nope...that's okay. I know they aren't built to last. My brother has one, he uses it one a month during the winter months and he seems happy with it.
I don't own the two star, so I can't say for sure, but I do have a MAK, and as far as I know, there is only a smoke mode, which is hot smoke, I think around 180° is what it will report, though the temp may be less in some parts of the grill. The fan is on. If you want to cold smoke on the MAK 2 star, there is a separate add-on box that you put over the warming tray portion. My MAK doesn't have the warming tray. There are some posts about this feature on the big poppa smokers forum. If I want to cold smoke on my MAK, I'd need to use the amazin tube smoker.
I have a smoke daddy I attach to my Yoder...but only to cold smoke cheese. The whole cold smoke thing just doesn't appeal to my palate at all.
I am very interested in one of those smoker that can do all that: cold smoke, heat without smoke, hot smoke, and control humidity, and also cool into the 50's. Goal is that I want to try some charcuterie. Had planned to hack up an old fridge, but I don't have a fridge to tear up, and a dedicated smoker like you've got sounds best. I'll look into those P&S units. I bet they're expensive.
Honestly, I have never heard of a single unit as you have described here...even at P&S. Pellet grills and smokers give out different results. The fan in the pellet grill is constantly exchanging the air, where as the smoker builds up and condenses the smoke giving a deep smudge in flavor and color. Plus, something in line to what I have is in the $2000 range. Pretty expensive...homemade sounds better.
I like your idea of the refrigerator. The temp control they sell at Midwest Supplies would also work on an electric element. I would contact some of the old junk yards in your area for a fridge. Or, an auction service...they deal with old junk all of the time.
When you refer to "Charcuterie", I assume you are referring to the book? I have looked through it a few times, but it "mainly" dwells on dry curing. Which, can be challenging...considering the temp and/or humidity control requirements for periods of months at a time.
I own "Great sausage recipes and meat curing" by Rytek Kutas. Had it for 14 years now, and I still love it/use the heck out of it.
TD