Range Hoods?

What is the deal with range hoods? 

I've been asking myself this question all day.

When I began looking at kitchen designs, I thought that hoods were just a decorative element. I knew that you could turn them on if something was burning, but I really thought people just liked the way that they looked.  If that's not the case why are there vintage brass ones and futuristic space age ones and some that look like fire places? 

So, I began looking for one that suits our modern style.  When I saw the price tag ($750 to $2,000), I began to wonder, Do I really need this? And, when I found out that installation would add another $400-$500 to the bill, I began to talk myself out of this idea altogether. 

Here is what I learned... 

It does seem necessary to have a range hood of some type. I found two types:

The first, that I referred to above, is attached to an exhaust duct that directs the smoke/ fumes outside of your home.  These are more expensive because the size is larger and the styles tend to be more elaborate.  In addition, it requires the installation of a duct system that leads outside. 

The second option is a smaller, cabinet or microwave mounted hood, that recirculates the air rather than directing it out of your home.  They have filters that clean the incoming smoke/fumes.  These were priced from $50-$500 and have no additional installation costs. 

These are likely our options...

(number one: exhaust) 

OR

(number two: recirculating, curved)

OR

(number three: recirculating, standard)

Please, feel free to comment with thoughts or experiences.  I will also post a poll so please take a second to vote!