When my family went to the Cape when I was eight y/o or so, my father picked some up out of curiosity; I think his main idea was camping, hunting and fishing applications where space is a minimum for the niceties. It's been years, but from what I remember, it was like eating a sponge that had hardened. There was some flavor, but not much--pretty much just an after-taste that lingered at the back of your tongue.
We didn't rehydrate it though, so that might make a big difference.