Here's the version I grew up with...
1/2 box Rice Chex
1/2 box Cheerios
1/2 bag pretzels
12 oz. peanuts
3/4 c. butter
1/2 tsp. Savor Salt*
1 1/2 tsp. Worcestershire Sauce
1 1/2 tsp. garlic salt (or powder)
* The original recipe calls for Savor Salt made by the Schilling Company. They discontinued the product when Schilling was bought out by McCormick. The company claims their Seasoning Salt is similar but I do not think it comes close to the amazing taste I remember as a kid. I have played with my own concoction for spices to create this flavor. For this recipe I mix 1 Tbs. onion salt, 1 Tbs. garlic salt and 1 tsp. celery salt, and then use 1/2 tsp. of the mixture per batch. It's pretty good but is still not the original flavor. So anyone out there who knows of a good substitute for Savor Salt, please let me know.
Preheat oven to 250º.
Begin by lining your roasting pan with a paper grocery bag, with the inside facing up. The paper will absorb some of the butter and keeps the morsels on the bottom of the pan from getting too drenched.
Add 1/2 box of each cereal, 1/2 bag of pretzels and the whole can of peanuts. (Ok I confess that a few peanut do not even make it this far.)
Melt butter over low heat and add seasonings. Pour over mix, thoroughly stirring.
Bake for 90 minutes, stirring every 15-20 minutes. Allow mix to cool completely before placing in Ziploc freezer bags.