Truffle oil is just the less-scary-sounding version of adding msg to a dish. 'Truffle flavoring' is plain msg, most likely.

MSG is great for cooking, it is the taste of "Umami". Umami/Truffle/Parmesan are all just means of adding this msg taste to things without triggering the anti-MSG rhetoric.

The Family Seasoning for Steak: Lowry's Garlic Salt, black pepper, msg. Delicious.