I used them to make some yummy gnocchi with mushrooms and sage--basically a little mushroom, a little gnocchi, a little garlic, a little butter. (For the full recipe, see "Cook With Jamie".)
I'd never tried a morel before, but I definitely now understand why people are so crazy about them. The smell that came off the pan when they started to cook was incredible. It was woody and damp--kind of like opening a bag of potting soil. And the texture once they were cooked was not at all chewy like some mushrooms--it was lighter than the gnocchi itself, but still substantial.
I have a feeling this could become one of my new Spring favorites!