Reputed to taste like liver, I find it to taste like steak, with a similar texture, especially seasoned with flavorings traditionally used with steak.
Unfortunately, you need to find the mushroom when it's very young, before it becomes leathery. I usually find it when only the edges are tender enough to pinch through (and eat), so I've only had a few opportunities to experiment with this very tasty, chewy mushroom.
I like to sauté it in oil with herbs and spices 5-10 minutes, then add a liquid or sauce and simmer it another 20 minutes to tenderize it. I'd like to try pressure cooking the mushroom in a soup.