I'm also glad to know the correct pronunciation!
not to detract from the pronunciation discussion of risotto, but...
i made it last week for the first time and it turned out absolutely perfectly.
problem was, having made it, i knew how much freaking butter went into it & it nearly turned my stomach to eat it 
How much freaking butter
did go into it? I only use a tablespoon or two, maybe adding a bit more at the end. Still comes out mighty tasty.

The best risotto I've ever made, hands-down, was the one with beetroot. Unbelievably gorgeous colour*, too. And I don't care much for beetroot, as a general rule.
*Please note, my fingers typed this spelling without conscious direction from my brain.

But that's a whole other subject...