I'm pretty sure you are right!
I've been fascinated by this thread - I didn't realise these things existed. Reading the 'pros' it seems like "safety" and a "cool hob" are the main advantages.. wtf? You give up being able to cook properly for a 'cool hob'? There must be more to it than that, surely? With Gunsnroses single circle, how does he have one thing on a fast boil and another pot on a slow simmer at the same time? Is that even possible?
My last place had an induction hob only I didn't know what one was back then and when it wasn't working with my pans the landlord got the guy who had installed it to come and repair it. 45 minutes of taking things apart, putting them back together, phone calls, etc. he suddenly realised it was my pans.
Guns - if you go to somewhere like Wing On, it will tell you on the boxes whether the pans are suitable for induction hobs or not.
MI07 - you're right - safer to use, but I'm back to gas now and so much happier for it!