I don't notice any taste issues with using a Zippo, but lighting a cigar takes time, and I do notice my Zippo gets insanely hot. Almost too hot to handle.
That would seem to be the beauty of a zippo though...You can just set it on a table or other flat surface and it stays lit while you toast your foot.
I haven't tried a zippo for cigars so I can't speak to the possible odour/flavour problem.