I would have thought it's more like a Pilaf than a risotto if it's cooked in the oven...but I have never tried to cook it like that either, so.

As for making the rice for risotto easier to cook, I usually soak it in water and leave it over night. I'm guessing most people soak only the brown rice or the beens, I'm doing things a bit different lately.. I've tried with Arborio rice and the stirring time has been reduced quite a lot.
Btw, Arborio is the cheapest probably and quite good. Coop had/has it on sale usually and it's worth every penny. I personally wouldn't look for some rare and more expensive product.