Pit Beef is a way of cooking beef found in the New England region, especially in Baltimore, Maryland.
URLs:
Food Network Video: http://www.youtube.com/watch?v=PKzNlADtck8
NY Times: http://query.nytimes.com/gst/fullpage.html?sec=travel&res=9501EFD81230F93BA15755C0A9669C8B63
Chaps: http://www.chapspitbeef.com/
The text below was taking from the BBQ entry to use as a bit of a template and reference:
BBQ or barbeque[1] (with abbreviations BBQ, Bar-B-Q and Bar-B-Que, diminutive form barbie, used chiefly in Australia, and called Braai in South Africa) is a method and apparatus for cooking food, often meat, with the heat and hot gases of a fire, smoking wood, or hot coals of charcoal and may include application of a marinade, spice rub, or basting sauce to the meat. The term as a noun can refer to the cooking apparatus itself, or to a party that includes such food. The term as an adjective can refer to foods cooked by this method. The term is also used as a verb for the act of cooking food in this manner. Barbecue is usually cooked in an outdoor environment heated by the smoke of wood or charcoal. Restaurant barbecue may be cooked in large brick or metal ovens specially designed for that purpose.
In US English usage, however, grilling refers to a fast process over high heat, while barbecuing refers to a slow process using indirect heat and/or hot smoke (very similar to some forms of roasting). For example, in a typical U.S. home grill, food is cooked on a grate directly over hot charcoal, while in a U.S. barbecue, the coals are dispersed to the sides or at significant distance from the grate.