For the first time ever, I had some as part of an FBLT at New Morning Market, aka a fakin' bacon, lettuce and tomato.
The bread was awesome, the lettuce was lovely and the fakin' bacon was exactly as it claims to be - fake bacon.
So what is fakin' bacon? It's basically tempeh with a smoky flavor. What's tempeh? Soybeans.
It wasn't bad. It definitely didn't taste like bacon, but it didn't taste awful.
So my final ruling on fakin' bacon is this: I still like bacon more.
But I don't like eating it too often and fakin' bacon is a nice alternative. I also didn't get that psychosomatic feeling of "my arteries are clogging" that sometimes comes after a particularly delicious and unhealthy, bacon-filled meal. Know what I mean?