In a large saucepan, bring water and salt to boiling. Add the mostaccioli. Reduce heat slightly and boil, uncovered, for 14 minutes or until pasta is just tender, stirring occasionally. Drain pasta thoroughly.
Add olive oil, butter, or margarine and basil or thyme to pasta. Toss mixture gently. Add Gorgonzola or feta cheese and toss gently until just mixed. Serve immediately. Makes 4 side-dish servings.