For what it's worth, yesterday I did an 8 hour smoke at 225 and it used less than 1lb/hr. As I said above, the outdoor temp was about 60. I must make the assumption that my earlier consumption rate of 2lbs/hr is a result of cooler ambient temps and higher smoker temps(Duh).
Bottom line...my Memphis Pro used 2lbs/hr+ of RecTec pellets at 275 degrees, if the outdoor temps are 35 or below. Same grill, same pellets, cooking at 225 degrees with 60 degree ambient temp uses less than 1lb/hr.