In today's San Francisco Chronicle, Steven Hill provides a review of the use of Ranked Choice Voting in the City of San Franicisco. According to Hill, it has been positively great.
We now have had five elections since 2004 using ranked-choice voting to elect the mayor, Board of Supervisors and other offices, providing some basis for assessing its impact. One significant difference between ranked choice and the old December runoff has been a dramatic increase in voter turnout. By finishing the election in November when voter turnout tends to be highest (because voters are showing up to vote for president or governor), a lot more San Franciscans are having a say in who represents them on the Board of Supervisors.
I find it interesting that the one election in San Francisco where the winner was actually determined by 2nd place votes, ended up electing Ed Jew who has since been booted from the Board of Supervisors for charges ranging from lying about his residence to run for a specific seat to soliciting a bribe. It was an example of identity politics (Jew is Chinese) rather than considered opinion.