That's what I'd be cooking if I were going to be in town for the Glorious Fourth. Here's why:
1.) It fits the day's theme. First it's blue (well, -ish.) Then you cook it and it's red. Then you shell it and it's white. How appropriate can you get?
2.) It's easy. All you need besides the big bugs is good butter and corn on the cob. Splurge on some high-fat European style butter and melt it very gently.
3.) For once, you can afford it. The fish markets at Market Street Grills are selling whole cooked or live lobsters Friday through Monday (July1-4) for $11.99 each. Available from 10 am-9 pm; call and order in advance.