No way! The best way to cook a lobster is DEFINITELY to cut them in half while still alive, then grill them, preferably over a wood burning grill. Make what my old chef called salsa piccata- Garlic and Italian parsely chopped together, mixed with lemon juice, olive oil and generous salt and pepper. Man, i'm drooling just thinking about it.
the other day my fiancee was watching queer eye for the straight guy and i saw this chef teaching the guy how to cook a lobster and what he made him do was to cut the lobster in half while it was still alive, i guess that is how to cook a lobster eh? :)
just watch overcooking, no matter how you cook them! YUCK! Ever tasted rubber tires?
Steamed is my preference, that's how we did them at the restaurant, with veggies cut up and herbs in the water. Then served it with clarified butter.
The Queer eye guy didn't actually show him to cut it totally in half, just the head in half. At least as I remember. We didn't do that, we dropped the whole live lobster in the water while it pleaded for its life.
In boiling water, it should take no longer than 10-12 minutes.