I started to teach my niece to knit over Thanksgiving, and bought her a small wooden loom at Hobby Lobby. (I think it's 11 pins.) I was so intrigued by it that I bought one for myself and I love it. It makes super fast skinny scarves, and if you do it with a slightly bulky yarn, then the stitches aren't too big or limp looking. My friends love the ones that I've cranked out so far.
I then went and got one of the bigger plastic looms (22 pins - is pins the right term?), thinking I was on to something. The bigger one, I didn't like at all. The pins were smaller and it was harder to use, IMO. I might give it a try again some time, but it won't be anytime soon.
And, in the last chapter of what is turning into a book on my experiences with looms, I started knitting some finger puppets for my nieces, but I'm a pretty lazy person
and quickly wanted to figure out the quickest way to do it without DPN's. I found something called the Clover Wonder Knitting Loom at Hobby Lobby. It has two different disks, with 6 pins or 3 pins, and the whole thing spins and it's lots of fun. The 3 pins make i-cord and the 6 pins make a tube-ish thing. With regular yarn it's a little small for finger puppets but with some fur-type yarn, they come out perfect. (I used Yarn Bee Luscious and another mystery ball that I had.)
So, at any rate, that's been my experiences with looms. I know, or have seen, that you can make anything on them you can make on needles, and there are tons of videos about looming on You Tube. But I think you end up sticking with what you learned first, and since I learned on needles, I'll stick with needles.