I balked for years at buying a rice cooker. Yes, I eat lots of rice, but it takes just as long and is just as easy to cook rice on the stove top as in a rice cooker Why would I buy an appliance that does one thing and only one thing?
Because rice cookers are the hidden jewel of appliances, that's why.
Does everyone in the family want hat cereal for breakfast, but they all get up at different times because they have different schedules? A rice cooker will cook your oatmeal, malt-o-meal, cream of wheat, breakfast grits, cream of rye, or cream of rice cereal and keep it warm and gooey-free through each person's breakfast. And it makes the tastiest fuss-free oatmeal.
Not just breakfast cereals, nearly any grain cooks well in a rice cooker: amaranth, quinoa, barley, millet, corn pudding or polenta.
It's a steamer - perfect for steaming fish, chicken breasts, vegetables, and, for those not allergic to soy - tofu. Plus, it will hold the vegetables at a good temperature while you complete other kitchen tasks to prepare the meal. You can also steam the vegetables over the rice - getting two portions of the meal done at one go.
It makes a near perfect risotto - saute the onion in butter in an open rice cooker, add 1 part Arborio rice, 4 parts liquid (I use a combination of broth and wine), and cook 25 minutes in an "on/off" cooker, or use the "slow" or "porridge" setting of a programmable one. No stirring, no clumping, creamy, delicious risotto. Add your cheese and herbs at the end.
You can slow cook beans, especially garbanzos, in a rice cooker, too, without burning or having the pot boil over. You can also slow cook split pea soups, cream soups, and even a small pot roast in a rice cooker.
It poaches fruits like a dream, and makes a delicious applesauce. You can make other easy fruit sauces in the rice cooker as well.
Steamed dumplings, steamed pork buns, and pierogis and other steamed breads do well in a rice cooker. I've made traditional British plum pudding and bread puddings in it, too, as tasty and delicious and easy as possible. The warmer function keeps it hot and ready if you get distracted.
Reheating food in a rice cooker may take a bit longer than a microwave, but the food is heated evenly and without those "crunchy" spots some foods develop, especially breads.
Steaming buns for hot sandwiches is a breeze with a rice cooker.
Biryani comes out fragrant and perfectly cooked in a rice cooker.
Jambalaya is amazing when cooked in a rice cooker - everything comes together deeply flavored.
A lot of Caribbean and Middle Eastern dishes cook well in a rice cooker, and I've used it to make African tagines (until I was gifted with a real tagine).
I've made New England Boiled dinners in a rice cooker, and German lentil stew, and the best mac and cheese ever, and frittatas, and pretty much any one pot meals you might want work in a rice cooker, too.
The rice cooker is the perfect dorm or small apartment or office appliance for preparing hot meals. I especially love using the rice cooker for work, because I can mix up the meal in the rice cooker, set it, and when lunch time arrives, I have a hot meal ready to eat.
Custards, yogurts, and even pasta cook well in a rice cooker.
I hear you can bake cakes in one, but since it takes a very long time and the cakes aren't any better than when made in an oven, I prefer the oven method of cake baking.