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Recursion vs Iteration

I don't understand recursion but I have a feeling about it. I'd appreciate
it if you could share your understandings about recursion and iteration
with me.

On the face of it:
   - There's something very attractive about recursion. It seems a "smart"
and interesting (albeit tricky and magical) way of defining, approaching,
and solving a problem.
   - Iteration, on the other hand, seems a ploughhorse way of trudging
through a problem - easy to grasp and lay down; then lots of plowing...

Is this just a beginner's appreciation of a new concept or does it hold
true in time.

(please also email reply)