We love Food Network and really enjoy Iron Chef. My son (and us too) has learned a lot regarding foods and cooking (and sometimes wants to be a chef when he grows up).
I was surprised CSM rated it for older kids, as we have never seen anything in it that we found to be inappropriate (what slight innuendo is very mild and not easy for youngsters to catch). They do cook with and serve alcohol, but we never thought anything of it, since it is just a part of cooking and dining and isn’t singled out.
We find the Chairman to be campy and funny (i.e the swoosh sound effect when he turns his head) and the mild bragging is good natured and smacks more of confidence than bragging to us. We really enjoy the show, and love to guess what the secret ingredient is going to be before it is revealed and which Iron Chef will be selected. The pacing is fast enough to keep it interesting.
We feel it encourages creativity and best effort, teaches about cooking and foods (and some history) and like how the chefs and judges model good sportsmanship.
Another bonus has been shows like this have made my picky son a bit more adventurous of an eater.