We bought a single induction hob as a second burner to cook on while we are in between kitchens, and also to test induction because we think we want gas but might move away from fossil fuels if it works for us. We've had it for about two months, now, and have formed a mixed opinion of the technology.
Pros: It heats as quickly as the hype suggests. It gets hotter than our little electric camp stove. We don't live anywhere near mains gas, so if we wanted gas we'd need to have gas bottles delivered occasionally and we'd have them in our garden, being there, whereas induction is electric so no need for gas bottles.
Cons: Some of our pans don't work with induction (cast iron does, of course). As Masonjohnsmum identified, wok cooking won't be quite the same as the wraparound heat you get with a wok burner on a gas range. In our experience with this (admittedly inexpensive, basic) model we have, the heat control is not as fluid as we would like. Also, lower heat settings work by pulsing the power on and off in cycles, and it doesn't work very well for slow simmers... instead it will boil hard for a second or two, then rest, then boil hard, etc. But that could just be because we have a cheap one. Maybe the high end ones cycle faster for more even heating, or are capable of lower wattage output, or something.
Anyway. We are still undecided. We'd hoped this £40 Amazon purchase would decide it for us, but now we don't know if the shortcomings are true for all induction jobs, or just the one we bought. The technology deserves a fair trial, so we'll go to a showroom or do more research. We're at least a year away from buying a cooker, so plenty of time to investigate further.