2 lbs. ground meat (preferably beef, pork and veal)
About 1/2 c. finely chopped red onion (I add pressed garlic too, because it's better that way)
1 tsp. sea salt
1 tsp. pepper
(I also add a teaspoon of smoked paprika)
Several long glugs of Worcestershire sauce
1/2-1 c. breadcrumbs (or as much as it takes to make it feel "right" - I use Panko)
Mix by hand in a large bowl, shape into a loaf, and place in an electric skillet. "Frost" the top with ketchup. Slice baby red potatoes in half and cover the rest of the skillet bottom with potatoes. Put the lid on, set the temp to 275-degrees F, and cook for 40 min. to 1 hour.
Updated (10 years after the original post) for cooking in the glorious Instant Pot:
Prep the meatloaf, and form it into a flat, round disk shape that will fit into a steamer basket. You can do a ring-type loaf if you do a 3-lb. recipe. Put 1 cup of hot water in the bottom of the IP pot, then put the steamer basket into the IP pot. Add the meatloaf (either skewering it right through the center with the post in the middle of the steamer, or centering up the meat loaf ring in the basket, if you've gone with that shape). "Frost" the top of the meatloaf with as much ketchup as you like, without getting it down the sides of the loaf. Pop the lid on, lock it in (in the sealing position), and push the "Manual" button. Set the time for 9 minutes, and walk away. When the cook time is up , use the natural pressure release method (about 15 minutes), then release the pressure valve. If you do a 3-lb. loaf/ring, cook for 10 mins. on manual with the same natural release at the end. This should give you a 160-165 degree F temp for the loaf that leaves it tender and moist, but fully cooked.
You can put potatoes (halved, lengthwise) under the steamer basket, if you want, and cook everything at once, but I do mashed potatoes in the IP separately, in large batches, since our potato-loving girl will eat them just about any time.