I'll be using my tenderizing mallet tomorrow on Abalone. I just bought 2# of it for a Valentines dinner I am fixing for my wife. She loves it and it is almost impossible for us to get anymore. Used to do a lot of diving in California and Baja and got plenty to eat.
Steak it and like earlier mentioned "pound the snot out of it". Dip in an egg wash and the cracker crumbs. Fry in a hot cast iron skillet for a couple of minutes on each side. Absolutely mouth watering!
(it was expensive....$70.00 per pound, wild caught....but worth it)