Yeah, it really depends on how you prepare it. The cool thing about tofu is that it's so absorbent, it can take on flavors really easily. The actual taste of tofu is pretty gross, but there's lots of ways I like to make it that taste awesome. One time I made tofu meatballs, and those were delicious. They didn't really taste like meatballs, but they had another distinct flavor that made it really tasty.
When I worked at the cafe on campus, we had one particular cook that did a terrible job cooking tofu, and another who did a great job with it. The tofu was seasoned with teriyaki or with italian seasonings, and you could add them to a salad. Teriyaki has a strong enough flavor that if you screwed up the tofu some, it was still pretty good. One time though, I had the Italian tofu on a day the cook who sucked made it, and it was really gross. I don't know what he did wrong, maybe he didn't marinate it in the seasonings long enough or something, but it tasted like tofu with some herbs sprinkled on it, not how it was supposed to taste.