Since I live more than 700 miles away from Chemult, Oregon, where this time of year the Matsutake can be purchased from the pickers (or picked personally, if you know the spots), I have to make do with the dried ones that I "picked" at the Far West Fungi at the Ferry Building Market in San Francisco. (Drying supposedly destroys whatever makes the Matsutake so wonderful, but I still could not resist trying them this way.)
While I would probably barely cook the fresh Matsutake, at least on my first try, the dry ones required considerable application of water and heat: after re-hydrating the mushrooms, I threw them into sauteéd onions and cooked for a while on medium heat, eventually adding parboiled potatoes. Seattle Post-Intelligencer has more interesting recipes in their 2004 article on the Matsutakes.
The result? Nice. Pleasant. But not magical. I am blaming that fully on the drying process. Some day I will hopefully end up in the right place and the right time for the fresh Matsutake.