Place meat in plastic bag and set in large bowl. Combine remaining ingredients, except chips; and pour into bag over meat. Close bag tightly around meat. Place in refrigerator and marinate 6 to 8 hours or overnight.
Build a medium fire in a covered bbq. Arrange coals at back and sides of firebox. Place a 12 x 10 inch drip pan made of heavy duty foil in center of firebox under grill and fill with water. Sprinkle some of the dampened chips over coals. Remove meat from marinade, reserving marinade.
Place meat on grill over drip pan. Close hood and cook to medium doneness (25 minutes on each side) brushing occasionally with marinade on each side.
Add more hickory chips every 20 minutes.
Season meat to taste with salt and pepper if desired.