How to use Saffron?

Saffron is one of the most expensive spices (?) there and often I have seen on TV that they just throw a bunch of precious threads in a bowl  and to me that is just wrong! Iran ranks first in saffron production in the world and being an Iranian, I have learnt how to use it and I am about to share that knowledge with you :-)
Take 3-4 threads of saffron and using a spice grinder, make it like a powder, boil water and add half a cup on to the powder and put some sort of lid on it, let it rest for 5-10 minutes and then use the red watery mix on your food.