I make homemade baby food for Ethan, and he loves it! It takes some work, about one day a month, but then I'm usually set for that month (at least for now- he still doesn't eat a whole lot). It's a pretty simple process. All I do is steam my veggies or fruits, puree them, put them in ice cube trays, and freeze them over night (covered with foil). The next morning, I turn them upside down under warm, running water, and dump them onto the foil. Place in pint size freezer bags, and put them back into the freezer. When you want to use them, just put them in a small bowl, and defrost (however you want). Yesterday, I found an awesome website (well, I already knew about it, but I really spent some time looking at it)- http://www.wholesomebabyfood.com/. I have been buying baby cereal, but I think I'll start making it now :). It's really easy. You just grind rolled oats, brown rice, or barley in a food processor or blender and place them in bags, in the fridge. When you want to make them, you just follow the instructions that they give (cook with water in pot on stove, stirring with whisk).
Let me know if you have any new ideas about making baby food!