Just wash the potatoes, rub with oil, pierce skin a few times with a fork, and bake in oven as if you were making baked potatoes (~400 degrees F, until fork inserted slides easily into potato). Then, slice potatoes in half, scoop out center (all but the layer closest to the skin) and bake in oven again (I just placed them on the oven rack) for maybe 1/2 an hour, flipping over halfway through. Place the potatoes so that the scooped out part is facing up, and cover with as much cheddar cheese as you like! Broil for another couple minutes.
Not the fanciest dinner ever, but we sure were excited! Tim said even bacon couldn't make them better. :) Oh, and you may want to furnish with sour cream...I can't stand the stuff, so we went without, and they were still delicious!