semi-steep climb to nice views of the Oak Creek Canyon
Sedona has recently instituted a "Red Rock Pass", which is a fancy way of saying you need to pay to play. As of May, 2002, the fee is $5 per day per vehicle. There are plenty of places in and around Sedona to pay this fee and get the receipt, which you need to put on your vehicle dash to keep from being towed.
From the Cookstove trailhead, it's just under a mile to the top of the East wall of Oak Creek Canyon. The top is a nice place to spend lunch, sitting on rocks and looking at the cool rock formations of the West wall of the canyon. Good views abound.
The hike continues south along the ridge of the canyon through a sparse forest of pine. The trail here is flat and the canyon views pop out once in a while. After about two miles, you reach the Harding Spring trail. Follow the trail back down to HWY 89A and walk the final 1.3 miles back to your car on the shoulder of the Highway.