While oven is heating, put the stick of butter in your a large roasting pan (disposable pans work fine) and put it in the oven to melt the butter at the same time.
Remove pan once butter is melted and combine all of your seasonings with the butter.
Add your cereal, nuts and pretzels. (I add my honey chex first since they are sweet and the mixture is a bit spicy, that way they even each other out a bit. I also normally use half honey roasted nuts and half regular.) Stir well and be sure to get the majority of your cereal mix coated.
Heat for 1 hour, stirring every 15 minutes.
Spread mixture on paper towels for approximately 30 minutes to cool.