THEY ARE GREAT!
We've had ours since late 2011, it's a Westinghouse 4 burner one, I think *almost* 20amps when all things are used at highest power (though it cuts back power on other elements so it doesn't fry itself).
You can boil water much quicker than gas, I reckon. Reason is with a gas stove/cooktop, the heat comes billowing out the sides, heating everything else in the room (including the Chef), but not the pot (This is my experience). Induction uses magnetic fields generated within itself to vibrate electrons in your pots and pans. Vibrating electrons is what causes electricity to flow in a circuit, thus, your pots and pans must be made of a conductive metal. There is no waste heat, except a little when you are finished cooking and the surface stays hot for a little while (There is a little "H" indicator for this on ours).
The electrical efficiency for these is higher than standard electric cooktops, gas stoves or anything else you can think of. 87% comes to mind here (after all the electrical system in-efficiencies are factored in). There is truly no better way to cook in an area with reliable power. If you haven't use one, and still claim gas is "so much better," try it out for yourself. It IS MUCH BETTER THAN GAS. PERIOD!
<ul>
<li>Instant Heat Adjustments: Check</li>
<li>Highly efficient: Check</li>
<li>Low/No Waste Heat: Check</li>
<li>Won't burn down your house if left on: Check (Something has to be in contact with the surface, otherwise, the magnetic waves don't work)</li>
<li>Durable: It depends - I recommend being careful with these, to prevent damage</li>
<li>'Power Mode:' Check</li>
<li>Loud Buzzing During Heating: Normal/Check (Pots buzz as the electrons vibrate on the Power mode on ours. Otherwise, they make a slight "ticking" sound)</li>
<li>Needs venting: Check - these things have to BREATHE. The electrical services inside them get quite hot, so you will hear humming even after use</li>
<li>The best choice for a stove in a careful environment: CHECK!</li>
<li>Expensive: Maybe. It depends on the model, features and where you buy it. Ours wasn't terribly expensive, and is full of features too</li>
</ul>
Overall, I recommend nothing else these days. However, these types of cooktops haven't yet been introduced onto ranges. Instead, you have to buy a separate Oven/Cooktop if you are installing it in your kitchen - which is nice, since you can choose a higher end oven, rather than being tethered to something else. This is perhaps the only disadvantage (or perhaps trying to cook dinner during a black-out...). If you need a true range, then just get a Ceramic-Top model - which should heat much faster and give more control than the old-fashioned models (with/with-out the coily burner things).
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