Anyway, oats benefit from toasting. So, starting them in butter or oil and letting them toast improves flavor. The other thing is that oats need salt. Unless you're making them savory it's a really small amount, but it still makes a difference.
I prefer cooking oats in water and finishing with cream (or milk, but I do love a splash of cream) rather than cooking them in milk from the beginning. I like the fresh dairy flavor and I find it looks more appealing.