Prepare corn for boiling, grilling or microwaving as directed below. Spread butter on hot corn; sprinkle with salt and pepper to taste. Squeeze a lime wedge over each ear; sprinkle with cheese, chile powder and cilantro as desired. Serve immediately.
TO BOIL: Remove husks and silk from corn. Bring a large pot of salted water to a boil over high heat; add corn and cook until tender (about 5-7 min.). Remove corn from pot; drain well.
TO GRILL: Remove husks from corn except for the layer touching kernels. Pull back remaining husks to remove silk; pull husks back up over corn. Soak corn in cold water for about 1 hr. before grilling. Grill corn over medium heat, covered, until kernels yield gently to pressure (8-10 min.), turning each ear a quarter turn every 2 min. Carefully remove husks.
TO MICROWAVE: Cook each ear, husk on, for 10 min., adding 2 min. of cooking time for each additional ear (cook up to 4 ears at a time). Remove husks and silk from each ear.