Here in italy, speck is pretty common. Comes from austria, and the dolomite region of italy which is basically austrian, they speak german, etc - Alto Adige or Sud Tirolo, (upper adige, or southern tyrol, depending on if you think it's supposed to be austrian or italian- there was much contestation about the region, and it has a special autonomous status).
Speck is mainly used like prosciutto - usually eaten in an antipasto, sliced, or in a sandwich, (goes particularly well with cream cheese, i think).
I think it's a shame to cook it.
But they do use it in making certain dishes, like canederli, which are these huge bread dumplings cooked in soup - a big ball the size of a tennis ball, sitting like an island in chicken broth. (you fry onions and small pieces of speck, i believe, and add egg to soaked bread. Make into balls and cook in the broth.)
It;s also used in other dishes. A bit like prosciutto.
It's expensive like prosciutto, and is really best savored plain unless you have such a quantity of it that you might want to use some in cooking. Or you can use the trimmings for cooking.
"Siduri said, 'Gilgamesh, where are you roaming? You will never find the eternal life that you seek...Savour your food, make each of your days a delight, ... let music and dancing fill your house, love the child who holds you by the hand and give your wife pleasure in your embrace.'"