We bought a Waring Pro a few months ago, and love it.
http://tinyurl.com/62s32
I used coupon codes to get 10% off and free shipping, so I got it for
a hundred bucks.
It heats the oil to 375 degrees F in 10 minutes, and when you add
food, it takes only seconds to get back to temperature, because it has
an immersed element. The whole thing comes apart and is very easy to
clean.
We use peanut oil, and after cooking an entire meal, there is an
amazingly small amount of oil gone.
We filter it through cheesecloth and store it in the fridge.
We've used the same oil about 5 times now (the manual says you can get
as many as 15 uses, depending on what you cook in it). Apparently the
more proteins you cook, the fewer uses you get out of it.
French fries, onion rings, fish, and chicken have so far exceeded our
expectations.
Oh, and my friend insisted I fry a pickle for him. He said it was
good. :-)