I just starting out new to boating last year so take this for what it might be worth.
I decided on an inverter and purchased a Promariner 1500 Modified Sine-wave inverter, close to $500 and it wouldn't run my small 700 watt microwave. Disappointing to say the least.
So I ended up scrapping this shiny new inverter and purchased a Xantrex 2000 Prowatt full sine-wave inverter from Marine West for under $400. Great price and a great inverter!
http://www.westmarine.com/webapp/wcs/st ... sNum=50550
I have it hooked up in the "Cave" back wall and use the teak lid to the cave to hold my microwave, coffee maker, toaster and ice-maker. All strapped down securely to the lid while underway.
I have no need to run any of these units at the same time, so I always stay well below the 2000 watt limit. I have a short power bar plugged into the inverter and up top to the teak lid to the cave where I have all my appliances.
I don't need inverter power to the entire boat just that one outlet. Keeps it simple and inexpensive.
Your boat may have different requirements, but the above works out perfectly for me.
I don't need all the power that a noisey and pricey generator produces and being in the PNW we really don't need an air-conditioner, we just open the window or a hatch.
Bob