Hi Joe, welcome to the Smokin It family and nice to see a fellow Torontonian on the forum. I have had my #3 for a few few years now with no issues.
I do clean the bottom of my smoker with water and dish soap to degrease it, then a good rinsing with the garden hose does the trick to clean it out every few smokes, however I don't touch the sides unless I have to. The shelves and side racks will also go into the dishwasher for a cycle to get them degreased.
I have used both chunks and chip, both with great success, however I don't use more than 2 ounces of wood for my ribs because I like my smoke on the lighter side. For my first attempt I used 3.5 ounces for ribs and they were definitely not to my liking. It was just to much for me and my family. I can relate to the 1 ounce that you are using considering the circumstances. And I do use different kinds of chips even from our local big box stores with no issues. Just be sure to soak your chips.
I also only use 1 pan of liquid next to the smoker/fire box and my ribs turn out great. Patience is key, keep them in the smoker for 5 - 6 hours at 235 and no peeking.
You also mentioned that your local BBQ joint uses cookshack. I am assuming you are referring to Big Bone BBQ? If so, I have tried there ribs, they are not bad, but I prefer mine (as does my family) over there ribs. And the pulled pork and brisket that the SI produces is simply outstanding.
Have you tried smoking other meats such as a pork butt? If so, does it turn out greasy as well? Just seems odd, but I would give it a once over cleaning, then run it for 4 hours to season it again and then try another smoke.
Not sure where in TO you are, it's a big city, but I'm in the Northeast part of town.