Teflon is the trade name for a few plastic formulations. The one most common in cookware is more specifically "PTFE." There are other a number of other non-stick coatings. For instance, Scan-Pan uses a ceramic titanium composite with a (non-teflon) closed plastic polymer bonded to it. Some non-stick or semi-non-stick surfaces are more texture than composition. Sitram makes a texutred line, for instance.
So there's all sorts of non-stick. Some of the plastics are Teflon, some are other plastics like Teflon, some are plastic polymers which aren't particularly like Teflon other than in their release properties. All of them have different properties in terms of their resistance to overheating, scratching, chipping, wear, etc.
In one form of another, usually tending towards the cheap, non-stick has become a staple in most commercial kitchens. Their advantages lie with cleaning as much as cooking. Cleaning takes time and time is money. Although non-stick surfaces do wear out fairly quickly so does most low end commercial aluminum cookware. They get so warped and dinged you can't cook oatmeal.
Fried eggs and omelettes seem to be the example of foods which do well in nonstick you hear most frequently. In my experience though eggs don't stick in a properly clean, pre-heated, pan with the right amount of butter, oil or other fat. In a pressure commercial environment, a proper preheat is a luxury. The typical strategy is to turn the flame up to "fusion," add oil when the bottom starts to melt (0.3 sec), and food when the oil smokes (0.02 sec). However, I learned in a less frenzied environment and learned to depend on the tendency of almost all foods to "release" when they reach perfect doneness combined with proper pan movement to time a lot of my cooking. Eggs especially.
Like Nan, I prefer seasoned carbon steel to the other forms of non-stick for nearly all purposes. It does require some extra care though. In fact I also prefer carbon or "hard anodized" aluminum to stainless for anything that doesn't require a non-reactive surface.
Hope this helps,