It seems, according to the video I linked, that it takes 3 seconds for them to die in boiling water and that is too long for some people.
Also, it says that doesn't kill them because their nervous system runs all along the creature, right to its tail. I also like to put them in cold fresh water in the freezer for a half hour or so to kill them, then I grill them.
Grilled lobster, or almost anything else tastes better than boiled. Lobsters don't have much taste anyway and boiling doesn't help. Either way, I am not a fan.