Product review (5 stars): Induction Rules
I've been committed to cooking over flame or coals for decades, but have become a recent convert to induction for cooking indoors. Here are some quick pros:

 - Fast, instant, efficient, controllable heat (nothing boils a pot of water faster)

 - Cool pan handles

 - Cool kitchen

 - Even heating (when using appropriately sized element for pan)

 - Easy cleanup (it's just a smooth piece of glass)

 - Much safer than radiant electric, or even gas

 - Although pan choice is more limited, even cheap pans can work great (cast iron, steel, etc.)

There are cheap single element induction hobs available for less than $100, if you want to try before you buy. Just realize that they tend to have smaller elements and may not evenly heat a wide frying pan. Even so, the advantages were enough to win me over and replace my gas cooktop.

I settled on the GE PHP900DMBB Profile 30" 4-element induction cooktop and love it. Initially, I was concerned about the unconventional layout, but it hasn't been a problem at all and I've even come to appreciate it (it's efficient for a 30" form factor). While the elements are only marked with a matte finish instead of a painted outline, I don't really notice any inconvenience. The hot surface indicators are a nice touch, but it cools off extremely fast, so burns are unlikely. For those wondering, the timer is only a kitchen timer and timed cooking is not an option on this cooktop. Also, there are plenty of increments when setting the heat, so it's easy to get the temperature just right, but there is no way to set it by degrees like some other induction cooktops. I tend to cook by feel and observation, so this hasn't been a problem for me. The low setting is perfect for warming, unlike some other induction ranges that still run too hot at the lowest setting. The default setting of 5 is a good choice if you have kids or inexperienced cooks, as it's hot enough to get results without instantly burning food. I only use the high setting to boil water, so the range of temperatures is suitable for any type of cooking. In fact, I've come to enjoy the simplicity of this cooktop and don't miss any of the fancier features available elsewhere. After six months of heavy use, I'm still very pleased and would purchase it again.