I think it is an excellent choice for health and weight loss (even better if you use steel cut oats and sweeten yourself, rather than the sugary packaged stuff). I agree that protein will give you more 'staying power.' I read about adding a bit of peanut butter and thought it sounded gross. I finally tried in years later and liked it more than I thought. You have to be careful with the amount though, since it is calorie dense.
Totally agree with this. Skip the sweet stuff or the instant stuff. But steel cut oats with berries and milk is an excellent breakfast, and better still if you add some protein and some monounsaturated fat. Try a level teaspoon of almond butter instead of peanut butter (no more--it's calorie-dense), or a few almonds (like ten or so, no more) and some kind, any kind, of low-fat protein: a couple of egg whites or egg beaters, or a half cup of cottage cheese, or a slice or two of turkey, or ideally some leftover salmon or smoked salmon.