Does fondant taste good?

I don't mind it if it is rolled thin enough with some clear vanilla or butter flavoring added.

A lot depends on which fondant you use. Personally I don't like the taste of Wilton's fondant, not matter how much flavoring is added. My favorite is Chocopan (white chocolate fondant), but Satin Ice is also good.
Some people swear by MMF, which I've never used, but will be trying shortly. Which fondant have you tried?

We're discussing something along these lines over here:

http://cakecentral.com/cake-decorating-ftopict-626053.html

You might find just what you're looking for!

I don't mind Wilton doctored up with flavoring or Albert Uster just the way it is.

Satin Ice, FondX, or Chocopan are the best. I wouldn't feed my dog Wilton! No matter what you do to it, it's the worst on the market by far. I've converted quite a few "non believer's" with Satin Ice!