In America, mushroom hunters consider the cap (the stalk is too tough to eat) just edible, whereas in France, it's considered choice. I side with the French and consider it quite good, with a delicious delicate flavor (don't over season or drown it out with too many strong-flavored ingredients) and soft texture.
Unfortunately, I never seem to find more than 3 or 4 of these mushrooms at once, not enough for recipe experiments.