It seems to me that the biggest problem with Cable Cookers is their manufacturers' claims that they can completely break in a brand new cable in 2-4 days. Imagine you have a new interconnect or speaker cable, which normally requires 250 hours of music signal to burn in. If it spends the first 4 days of its life on a cable cooker before installation in your system, my repeated experience (across a variety of cable types) is that it's still going to require 250 hours of music signal! All that cable cooking achieves is to make the cable sound less bad while you're getting the hours up.
Phono cables are a different issue, while several respondents also refer to using a Cooker to "refresh" well-used cables; I don't dispute any of those observations.