I've only used an induction element once, in a cooking class. It is faster heating and quicker in temp. changes than a regular electric element.
I'm planning on getting induction in my next cooktop but will probably buy a hybrid one (a unit with one or two induction burners and the rest conventional glass top electric) as they're much less expensive than all induction.
There are adaptors allowing you to use a non-magnetic pot on an induction burner, though, of course, you lose the above mentioned advantages.