Preheat oven to 325 degrees F. NOTE: Many readers have had issues with their mix burning at 325 degrees. I haven't had this problem, but I would recommend baking at 250 degrees F to avoid this potential issue.
In a large roasting pan, stir together the cereals, pretzels and nuts.
In a small bowl, whisk together the melted butter, Worcestershire sauce, seasoned salt, garlic powder, onion powder and cayenne pepper. Drizzle evenly over the cereal mixture and, using clean hands, toss to combine, making sure that the mixture is evenly moistened.
Bake for 1 hour, stirring every 15 minutes. Once cool, store in an airtight container at room temperature for up to 2 weeks.