Set it and forget it. It does not require you to stay while the food is being cooked as you can set a timer and temperature so you can do other things, like prepare the side dishes or drink beer with friends while the grill is doing its job. Most pellet grills use electronic controls to regulate the grilling according to your preferences. You have a choice to choose the level of smoke aside from choosing your desired temperature.
Like with e-cigs and their gimmick of flavorful e-liquids, pellets for pellet grills and smokers also have different flavors added to their pellets, and they include bourbon, maple, apple, cherry, mesquite, alder, pecan, and hickory. You can mix flavors, change flavors, or use different flavors for every day of the week if you do everyday barbecues and grills for your restaurant or something.
Hey John – great question. My experience is that I use maybe 8 lbs of pellets for a 7 or 8 hour cook at 275 degrees. Pellet grills are relatively fuel efficient. The brand of pellet you choose will play into this. Cost for pellets varies by manufacturer, similar to charcoal. I think you’ll find them very efficient if you’re just firing them up for high heat, shorter grilling sessions.