Heat oven to 250º F.
In a large bowl, mix cereal, nuts, and pretzels; set aside.
In ungreased large roasting pan, melt butter in the oven. Stir in seasonings. Gradually stir in cereal mixture until evenly coated. Bake 1 hour.
Spread on paper towels to cool, about 15 minutes. Store in airtight containers.
*There are now updated directions to make this in the microwave*:
In small microwavable bowl, microwave butter on high about 40 seconds until melted. Stir in seasonings.
Mix all other ingredients in a large microwavable bowl. Pour butter mixture over cereal mixture; stir until evenly coated.
Microwave on high 5-6 minutes, thoroughly stirring every 2 minutes. Cool on paper towels.