Well, it turns out that it's good for you and it tastes like cheese (sort of).
How is it good for you? Apparently, it has protein, vitamins, minerals and antioxidants in it. We all want those, right? :-)
Does it REALLY taste like cheese? Yes, and no. If you think you can sprinkle it on pizza instead of cheese, you can, but don't expect it to be gooey like cheese. It is more powdery, sort of like the Parmesan cheese that comes in a can. Speaking of which, that might be the best way to use it. Use it the way you would use Parmesan cheese. Sprinkle it on popcorn, pasta, salads, etc.
One of the best things I have found to do with nutritional yeast is this: Mix it with breadcrumbs (Panko works especially well). Then sprinkle it on things. This will add a nice crunchy texture to it.
I no longer use regular Parmesan cheese out of a can. This seems like a much healthier alternative.
"Provides great-taste and nutrition when added to a wide variety of foods and recipes. Makes a healthy delicious seasoning when sprinkled on most foods..."