Like you, I've ended up there a few times after doing searches for particular information. I haven't read enough of their stuff to recommend it (or not).
[link|http://www.cato.org/about/about.html|About Cato] lists some things I can agree with, but it's pretty easy to write a moving policy statement that many will be enthusiastic about. It's how those policy statements are put into practice in the real world that matters though, IMO.
The list of people on the [link|http://www.cato.org/people/directors.html|board of directors] includes John Malone of Liberty Media (he may have a lot to do with the dreck on TV these days) and the president of "U.S. Term Limits". They don't give me a warm feeling, but perhaps they're just hands-off directors.
I haven't found a political or philosophical group that I can strongly identify with. I've got a bit of a libertarian outlook, but am not a hard-core Libertarian. I haven't voted for the winner in any presidential election since 1980. :-/
Cheers,
Scott.