If you've read the other reviews on the Frydaddy in it's various forms, you should have a good idea of how it works.
I'm offering this review at my wife's insistence, it's all about the dadgum "improved" power connecter. The unit we have is model 05424, and we advise against it.
The power connector is a magnetic thingy, that at first, seems like a a great new idea! NOT. We screwed-up several meals because the connector pulled loose and the pot was shut off while we were concentrating on other parts of the meal preparation. If it were not such a hassle, we'd take it back for a refund and go find one with the old-fashioned push-on connection.