This is a brisket cook. For different ways and recommendations how to cook a brisket, you can reference the brisket post. The only difference I have noticed is the pastrami will take up to 4 additional hours to cook compared to a regular brisket.
Recommendation: Cook in advance. You can keep the pastrami warm for almost 6 hours in a cooler and up to 12 hours (or more) in an oven. The best pastrami cooks use a slow cook with plenty of time to rest. A fast cook or not enough rest will result in dry pastrami.
Prepare smoker for an steady 225F temperature. Post oak wood chips are preferred, but I have also just used a clean lump charcoal. Use a meat thermometer and insert in the thickest part of the flat. Cook until the meat reaches 195F degrees which can take 12 to 18 hours.
Pull the brisket off the smoker, double wrap in foil, reinsert the meat thermometer, wrap in towels, and place in a cooler. Let the pastrami rest until 160F to 170F temperature. Reduce temperature of the smoker to 160F. This should take approximately 3 to 4 hours.
(If you are ready to serve after the meat has rested, skip this step.) Place foil wrapped brisket back into the smoker until it is time to serve. This can easily rest up to 12 hours and I have noticed an improvement in the pastrami when it is able to rest at temperature for at least 2 hours.
Slice against the grain into 1/8 inch thin slices. It is personal preference for a thicker slice, however it will be hard to slice a warm pastrami more thin than 1/8th of an inch.
A perfect pastrami will break apart easily when gently pulled but will not crumble. The pastrami should drape over when held by a finger.