Essential in the Chinese kitchen. Three settings: cook, warm and unplugged. Easy to use: place rice and water in the black cooking bowl, put in rice cooker, put lid on, turn switch to cook. When the rice is either done or boiling over, turn switch to warm. Ours also has a steamer on top (not in this photo), for cooking dumplings and similar.
For those of you interested in how things work, it works by induction. Underneath the bowl that the rice goes in is an induction coil (separate picture on flickr). An electric current is passed through it, which generates a magnetic field, which generates an electric current in the cooking vessel, which then gets warm, which cooks the food. Very efficient - none of this heating something to heat something else to heat the food lark. Also doesn't generate much excess heat, useful in the stifling Chinese summer. The stove works the same way.