Why does my cast iron pan smoke?

[ElSapo]

This is basically my third time trying to cook with cast iron. And by thrid time, I mean the third time I've bought a pan. Everyone raves about cast iron - longevity, heat retention, non-stick properties, price, and so on. So I keep trying to make it work for me, and I keep running into problems and questions.

1) Is this thing really non-stick? I understand the concept of seasoning (done it), and how the build up over time creates a truly non-stick surface. But is it non-stick in the way that a teflon pan is? I can cook an egg over-easy with no oil in a teflon pan, flip it and have it come out right just about every time. The cast-iron needs oil. Will it always require oil to, say, cook eggs?

2) Why does the damn thing smoke? Two theories on this one - I bought the Lodge 10-inch, and someone's notes on Amazon mention "it smokes for about the first ten times you use it." What's up with that? Or, it could be overheating the oil. But how hot does the skillet get? I really don't think it's the smoke point of the oil - I'm getting a cast iron pan smoking mostly when I've been cooking and the pan started to need more oil.

3) How many people really cook with cast iron? I do a lot of cooking, and I feel like this is something I -should- be doing. But then again, it always seems to be a pain in the ass. I spend as much time thinking about how to season and clean the pan as I do cooking. What's the point in that?

Any advice or tips are welcome...