I figure the microwave is faster, but I don't think the rice cooker would be. I guess if you constantly eat rice, not having to pay attention is a plus?
The big problem with a pot is that you'll often get the temperature wrong, and end up baking the lower layer of rice onto the pot bottom, or not quite cooking it fast enough and end up with mushy rice. I only get great rice from a pot about 75% of the time. It's 100% of the time with a rice cooker.
So, yes, not having to pay attention to the rice while I work on other parts of the meal is a huge bonus. If you only need white rice, you can get a basic rice cooker that will work very well for about $25 (I've heard brown rice is possible with the lower priced devices by giving it a bit more water, and leaving it to "warm" for a few extra minutes, but I've never tried it).
Single-use kitchen products are silly, not to mention space-inefficient. Even if it makes oatmeal and rice, that's basically just a bunch of starch. Might as well just eat Ramen.
One can find a nice set of sturdy department-store quality cookware (with lids!) at a discount retailer (like Ross or Marshalls). They'll go much further in ensuring consumption of the variety of nutritional foods. Basics one can get for about $60 for all three: a boiling water pot for the stuff to be cooked in bulk, a saucepan (cause bland rice is boring) and wok-shaped skillet. They fit neatly inside each other space-wise, as well.
My secret to rice cooking: add a wee bit of vegetable or other oil (I also like to add a bit of cayenne pepper to the oil sometimes) in the skillet, and let it warm, but not over super hot temp. Then add the rice, and kind of "sautee" it for a little while, but keep the rice moving to make sure it doesn't burn. You really just need coat it a little little bit, to prevent it from going mushy and therefore cannot coat the bottom of the pan with the black mush that happens when the rice is added to the water. After adding the water and bringing it up to a boil, you can turn it down to the lowest temp on your stove, cover it, and let it cook for the rest of the time on the package.
I guess the one prevailing great thing about the fancier rice cookers it that they beep when they're done. So I guess if you use my method, don't forget to set a timer.
I agree, which is why I called it out as one of the few instances where it is worthwhile. And speaking of pots and pans, Cuisinart makes a great set of pots and pans, covering everything you need, that sells for $149 from Amazon. That, and a good knife, and a few other bits and pieces, are most of what you need to have a nice cooking kitchen for dinner for a group of up to about four (and the two small ones are good for single and double meals).
To put things into perspective, I don't even own a microwave. But, I consider a rice cooker absolutely mandatory if you eat rice regularly. If you don't eat rice regularly, then obviously a rice cooker is not a useful expenditure or use of space. I consider it a good investment of both, because my most common meals are various kinds of Chinese, Indian, and Mediterranean foods that include rice as a base.
Even if it makes oatmeal and rice, that's basically just a bunch of starch. Might as well just eat Ramen.
I'm not a believer in the Atkins anti-carbs crusade, nor do I accept that all grains are created equal. Oatmeal and brown rice are both quite reasonable "slow" carbs, when combined with proteins and vegetables. Ramen is not a slow carb by any stretch of the imagination, and is actually "just a bunch of starch" (it also has way too much sodium, if prepared as directed).
Rice cookers are also great for steaming vegetables. Growing up, the rice cooker was our most commonly used cooking appliance, even when we didn't have rice.
I can't remember the last time I came close to burning rice: it's about the easiest thing to cook that there is.
Turn heat down to 3.
Add one cub of rice.
Stir once and then cover.
Turn heat down to 1-2 when it starts boiling again.
Wait 10 minutes, maybe turn it down again if you are in the kitchen.
Turn heat off and wait 5 to 10 minutes before opening lid.
Fluff and eat.