I just bought some because I was curious....it doesn't really taste like anything in particular. Some say it tastes like cheese (it doesn't really, at least it can't pretend to be cheese). A friend of mine told me it tastes like Umami (the 5th taste en.wikipedia.org/wiki/Umami
) and I'd say that is about as close as I could describe it. I have yet to really use it for much but I think it has potential...while it doesn't taste like cheese I think I might be able to use it to cut down on cheese in recipes. It's almost like if soy sauce and cheese had a flaky baby that didn't inherit all the saltyness of soy.
In short...just try it. I've read that people either like it or hate it. I was told to make sure that the package says "flakes" on it...for some reason that is important. I bought mine in the bulk section of Sprouts.