Instant runoff means better choices and more representative outcomes. In my city, it has meant candidates reach out to more voters, and the winners are successful more by working hard than spending money. In statewide elections, it would accommodate third parties and independents being able to hold major parties accountable.
Instant runoff voting is a very good idea. It gives the voters more choices, as well as reduces the amount of throw away votes that are received, and it also increases the voters chances of picking a winner. It is a big step in the ahead elections that should be implemented.
Run off voting is a very progressive idea that sounds like it would make a more fair choice in future elections and other types of votes. If 40% of the populace vote one guy as number one but the other 60% has him as number 200 it makes no sense to give the first guy the win. That is a recipe for failure that America has had for many years.
The truth of the matter is that IRV does not actually do the shiny things it claims to. The spoiler effect remains and voters CAN be incentivized to NOT vote for their favorite.
Suppose in a 21,000 voter election, 7000 people vote A>B>C, 6000 vote B>A>C, and 8000 vote C>B>A. Then B is eliminated so A wins. HOWEVER if 3000 C>B>A voters stayed home or DISHONESTLY voted B>C>A, then the lesser evil B wins.
There is more information on http://www.rangevoting.org which shows that the REAL reform is Approval and Score voting.