I've only cooked with it a couple of times, both in seafood risotto. I find that it has a rich, slightly earthy, slightly fishy taste, but definitely not a strong seafood flavor. It adds far more in terms of color than it does in flavor, but it does have some body too it. Of course, if you care to make your own pasta, it works there too, but I've never tried that. If you want a really pretty dish to present, top the blackened risotto with some pink shrimp when serving, maybe some green herbs/chive blossoms too. (Then tell me what time you're serving dinner and where

)
One of my very favorite preparations has been at Vera, where they served an amazing dish with clams, chorizo and squid ink noodles.