About a year ago I bought a steam generator iron. I'd always been a bit sceptical about them, but various friends convinced me they were worth the money. Boy, have I been impressed with it! Yes, it was expensive (around £150), but I have to say it's the best iron I've ever owned.
The plate itself doesn't heat up - it is heated by the steam that is generated in a large 1.5ltr tank. Consequently it is impossible to scorch anything. I can put the iron down on the ironing board whilst rearranging the garment I'm ironing, without ever having to worry about it. Because the tank holds 1.5ltr of water (I believe some have bigger tanks), I'm not continually having to top the water up, as I was with a standard steam iron.
And, perhaps most importantly, it irons beautifully, attacking the most stubbornly creased fabric with ease. Best of all, it turns itself off after several minutes of inactivity, so I never have any of those "oh lord, did I remember to turn off the iron?" moments