I just purchased one too, on Amazon Prime day, so I cannot answer your question. I will be watching here to see if someone else can. I have not

Used it yet, but it looks a little intimidating to me.

Don't have one, don't want one, but there's a pretty comprehensive review in this thread over in Cooking:

http://ths.gardenweb.com/discussions/3566177/the-infomercials-are-getting-to-me?n=8

I was recently given the infomercial version of this from a relative. He ordered it and also felt intimidated by the thing. I, on the other hand, love it. We are bean lovers and I cook all types of beans in this pot. I put in all my ingredients, hit the bean button and let it go. There are certain dry beans that don't cook all the way through, and I will have to hit the button for a second go round. But bottom line, it cooks in a fraction of the time that it would take cooking on the stovetop. I have also used it for stews. After reading this post, I think I'll experiment on a few other dishes. Might as well put it to more use.

Got one for Christmas and the only thing I've made in ours is spaghetti sauce which did turn out really good. However, afterwards, I put it on the shelve in the pantry and forgot about it until reading this thread. (And I just made spaghetti sauce again Friday the old fashioned way).

Mine was a gift, but if it wasn't I'd return it (along with a really super expensive breadmaker I was given) and save the money.

I think the device really shines on beans or things that require a long time to break down (like thick cuts of meat). I've never cooked rice in mine --- I have a zojirushi. The advantage primarily is not having to deal with watching the rice steam.

There are two kinds of release: quick and natural, but you don't have to do one or the other. You can let it go natural for like five minutes and then finish with the quick release. Some people do rice. I'm not familiar with super long heat up times --- the upper range may be for frozen meats.

See the site Hip Pressure Cooking for some great recipes. I've made this vegan chili from Chow several times now, it's a fav for a meatless day (suggested mod --- cut down the cooking time). I also do meat-based chilis :)

Just saw this over at the kitchen:

http://www.thekitchn.com/5-things-you-should-know-about-your-new-instant-pot-233636?utm_campaign=feature2&utm_medium=homepage&utm_source=feature-home

ETA Sorry, should have mentioned that I posted it because there are likely to be comments from folks who have them.

Pressure cookers (with saftey valves) are great. I can't imagine one taking 40 minutes to come to temperature....

I just got one from the Prime day, too! I used it today for a trial run, as recommended in the manual. I was gonna go straight to pressure cook the beef (but I'm scared to use that feature!), and I, too, read that it needs 10-40 minutes for the pot to build pressure and get to the right temperature then the timer begins. I don't like that at all. I bought it mainly to replace my broken crockpot, and to try to cook new things and make life easier in the kitchen. Hopefully, it would.

I have one. Don't let the part about 10-40 minutes put you off. I haven't had it take anything longer than 10 or 12. I am not an Instant Pot zealot and in general I hate gadgets, but I still find it useful. We are vegetarian so don't use it for slow cooking or pressure-cooking meats, which is one of the most popular uses.

I use mine regularly for hard boiled eggs because they pop out of their shells effortlessly every single time. Also for mashed potatoes, steamed veggies, soups, mac and cheese, and cooking up large batches of kale or other greens without stinking up the house.

One of the advantages of the Instant Pot is that it isn't releasing steam the whole time your food is cooking. If your kitchen tends to heat up or you don't like kitchen smells filling your house, it helps with those things.

My friend who IS an Instant Pot zealot uses hers for almost every meal. I use mine about twice a week.