I've cooked in a wok since 1972, and love it. I've heard this before,
that you need blast furnace like heat. It probably works best with
blast furnace like heat, but I don't recall reading about many ancient
Chinese villages having blast furnaces handy. Of course, I'm not a
early Asian historian, so I'll defer to some experts opinion on this.
OTH, I gave up trying to use my wok on an electric stove, when I had
one, years ago, and went to the Asian market and bought one of those
$20 portable propane stoves and a few little bottles of propane. Worked
fine. One of my criteria when I moved was to have a gas range. Makes
life much easier. The biggest problem with an electric heat source is
that you can't turn it up or down fast enough for wok cooking. Doubt
that I'll try it again, just too frustrating. As for the oil smoking, I
avoid it completely. I don't cook anything that hot. I use peanut oil,
which has a high smoking point. For the high heat stuff, I heat it to
just below smoking.
Or you can call up a steel company, and order yourself a blast furnace.