I've smoked DMT concentrate once. I don't believe it was the 5-MEO compound, but I'm not 100% certain. Smoking DMT is rightfully referred to as "the businessman's trip", as you're there and back again within 10 to 15 minutes. Keep in mind, that's 10 to 15 minutes of regular consciousness time. Time dilation and distortion was absolutely at play during the trip. I experienced the usual kaleidoscopic, geometric visuals, and was left with a strong sense of spirituality and conviction, and an overall appreciation for life. None of McKenna's elves though. Everyone's trips are of course unique and different, but most people don't have bad trips when smoking the substance. It's too brief for reflection. I do recommend it, but only to the somewhat-seasoned psychonaut.

Now, my friend did orally ingest ayahuasca, and his experience is more or less spot on with the "effects" description in the wikipedia article. We gave a bucket for his vomit, which was employed near the climax of his trip. We asked "are you OK?" as he hurled, to which he replied "I'm fan-fucking-tastic!!", with a shit-eating grin on his face.

Feel free to ask me specifics about ayahuasca/DMT, I'll do my best.