My wife and I eat buffalo steaks more often than we eat beef steaks. Buffalo is widely available in Colorado - even Costco carries buffalo meat (ground only though I think). It does great, just like good beef does, with a simple salt and pepper seasoning.
We also make buffalo burgers with some regularity. Topped with roasted red peppers, swiss, onion, and avocado, they're pretty great.
Buffalo meat in general is like other game meat such as elk in that it fares better in a more rare application. For buffalo steaks or burgers i try not to take them too much above 115 degrees F.