You can use turmeric for the coloring in saffron rice, too. It doesn't have the same flavor or aroma as saffron, but most people don't even realize it.
I've bought small amounts of powdery saffron for probably $7-8 and a little jar of whole threads (stamens) for about $12. My taste buds are pretty sophisticated, but for the life of me, I've never quite figured out what is so mind-blowing about saffron, other than it being so labor-intensive to harvest.
Annatto is jazzier, for sure. Saffron is "delicate" but even with turmeric in something, it just tastes "different" than it would without either one. I like them all, but tend not to keep saffron on-hand - and I'm a person with $1000s of bucks worth of spices in my pantry. They even move with me. Now that I'm very poor, it's nice to have them. Bologna always needs some herbes de Provence!
"Annatto is jazzier, for sure."
Now you are beginning to annay me;)
New name for Spotted Owl's restaurant: "Annatto's"
I haven't heard about trumeric in years. Mom had some in her spice cabinet when I was growing up, but I don't think she used it.
I'm going to take a close look at that "saffron". I know it is stamens and not powder. The bag weighs the same as a kleenex, though. My oldest daughter is married to a man whose family is from India. He makes some kick ass Tandoori Chicken. I'll ask him about spices. I've been wanting to try to make curry. I spotted an Indian grocery store the other day. The only problem is getting to town with only one vehicle.
Annatto would be a cool name for a restaurant :)