Cook one way or another? That's about right (5)
I believe the answer is:
broil
'cook' is the definition.
(I know that broil is a more specific form of the action grill)
'one way or another? that's about right' is the wordplay.
'one way or another?' becomes 'boil' (I can't justify this - if you can you should give a lot more credence to this answer).
'that's about' means one lot of letters goes inside another.
'right' becomes 'r' (common abbreviation).
'boil' going around 'r' is 'BROIL'.
Can you help me to learn more?
(Other definitions for broil that I've seen before include "get very heated" , "disturbance" , "Old quarrel" , "stew" , "Maybe grill" .)