How do I cook Wagyu if I actually buy some?
If you try to treat a Wagyu steak as if you were cooking beef, you will be sorry you did, and you will look down at your plate and say, "Damn, I spent that much money on this?" Don't do that. Think about quick-sear cooking techniques for things like rare tuna and foie gras, not about steak. If you do it right, you may just acquire an addiction for life.
Open flames, preheated cast iron and Wagyu beef are friends. Good friends. A quick sear of thin pieces in a very hot flame works wonders, and if you are lucky enough to have a thick steak, you want it absolutely seared and crispy on the outside and raw and quivering on the inside, even if you do not normally eat your steak this way.
You can use an intensely preheated cast iron pan or grill to achieve this effect, but you cannot allow the steak to remain in contact with heat for long enough to melt all the fat and cause it to drip out of the internal structures of the meat, or you will end up with boringly tough, dry, expensive meat.
Wagyu is a fragile creature under heat. Treat it delicately and with the utmost care, and it will reward you with velvety perfection. Another good analogy to cooking Wagyu is that of a baked Alaska—you need to sear the outside, but if you let it sit under the heat too long, it will melt the ice cream inside, and you will have an unappetizing mess. The physical structure of Wagyu beef is not unlike ice cream in that it can literally melt and change into something very different from its ideal form.
Wagyu sashimi, or thin raw strips of beef marinated in a bit of soy sauce, dashi broth and green onion, is very popular in Japan. If tartare is not to your taste, place the thin strips on top of a very hot bowl of rice briefly, and the heat will cook it perfectly. Which is to say, very slightly. "Well done" and "Wagyu" are not words that go well together.