A good wok is a great multi-purpose pan, that is the vessels real strength. I've used mine for everything from omlets to stir-fries, to boiling pasta, to making gravies. I've even used it for making cobler-style deserts. But everything I can make in my wok, I can make in other cooking vessels.
A good stainless frying pan is great for making stir-fries, and will distribute the heat better than will a wok on an electric stove. But the bottom must be either encapsulated with aluminum or copper, or the pan must be multi-layerd with aluminum or copper to distribute the heat evenly accross the cooking surface. The encapsulated bottom pans are inexpensive an work very well for this.
The problem with the wok and an electric stove is that the heat source is relegated to the bottom of the pan. If you have a flat-bottomed wok, this means that the sides are going to cool rapidly with distance from the bottom. With a round-bottome wok, you get only the benefit of radient heat, and that is limited to the area described by the ring on which it sits.
With a gas flame, the hot gas gives up some of its energy where it first touches the metal, but then flows up the sides to heat the rest of the wok. So your cooking surface is enlarged. And yet, cool enough at the upper levels to keep food warm and avoid overcooking. The wok is also deep and can be used with oil for deep frying, or water for boiling. Again, since with gas the whole surface is heated, the food gets cooked a bit faster.
True wok cooking results in metal that is glowing. The food must be kept moving and cannot sit for any length of time or it will quickly burn. Wok cooking is time intensive as it limits what you can do at any given time.
In my opinion, cooking with a wok on an electric stove is not time or cost effective. You can do better with specialty pans like a saucier or frying pan.
That's my humble opinion anyway. Hope it helps.
Seeeeya; Goodweed of the North