> It is wonderful to use instead of an oven since it doesn't heat up the whole room

Energy efficiency is a big point. Between my Instant Pot and Air Fryer I have few opportunities to turn on the oven. These devices heat up faster, cook faster, and provide more consistent results. This is especially true now that I'm an empty nester and no longer cooking for a large family. It also makes it easy to resist the temptation to rely on processed foods.

If I’m being really miserly about heat output and/or food smells I’ll walk my pot out to the back deck to release. (Could also plug into an outdoor outlet to cook, but gets logistically complicated with timing if I’m not already hanging out on the deck.)

IIRC you're really not suppose to do this. A pressurized pressure cooker is not something you want to drop accidentally.