I now cook my rice like one would cook pasta. I pour however much I want in a pot of salted, boiling water. When it's done I pour it into a colander, set it on top of the pot, melt in some butter and fluff it with a fork.
Nothing ever sticks to the bottom of the pan, it's pretty indistinguishable from rice cooked he "normal" way and it's way less hassle.
But for "better" kinds of rice, like basmati or jasmine, I always use the absorption method - the rice is so, so much better! The delicate flavours are better preserved and the grains are drier and more separated.
Also when you're cooking stuff with the rice, such as risotto or biryani, the absorption method is a must for me - a risotto or biryani cooked otherwise is honestly not worth eating; but with absorption, the result is absolutely heavenly!
I try to stick to the same brands of rice, as the amount of liquid, and cooking time, can vary from brand to brand.
The bag serves as an interesting timer, when it's completely bloated in boiling water, the rice should be done.