The microwave oven was invented for cooking corn on the cob. This method, from Microwave Cooking Step-by-Step from Litton, 1978, preserves all the flavor.
3-6 ears fresh yellow corn
1/4 cup water
Shuck the corn and place the ears in a Pyrex backing dish. Add the water and cover the dish tightly with a layer of plastic wrap. DO NOT ADD ANY SALT. Cook the corn in a microwave oven on high power for 10 minutes (3 ears) to 15 minutes (6 ears), turning them over and rearranging the ears after 5 minutes. After heating, let them stand with the plastic cover in place for another 10 minutes.
After the ears are cooked, just slather them with butter, sprinkle on some salt to taste, and enjoy!
"Stick me with a fork -- I'm done!"
Smokey Pitts, BBQ philosopher