That's basically how I've prepared it the last couple years. I read about it in Cooks Illustrated Grilling & Barbequeing book. I smoked the roast at about 235 for around 2 hours for a 2 bone roast, stuck it in the oven as hot as I could get it for about 15 minutes. Growing up, we has rib roast and Yorkshire pudding nearly every Sunday. This was better than any one of the ones Mom cooked. (Sorry Mom!)
I have had some good Yorkshire Puddings, but Mom's gravy was always better.
P.S. Mom learned Yorkshire Pudding from my grandmother, who grew up in northern England, just SE of Manchester. "Nanny" had a stroke the year I was born, but apparently she was an amazing cook.