I love cereal. It is probably my favorite food.
Most of the big name commercial cereals (Kellogs, General Mills, Post, Quaker) have a lot of unpronounceable stuff in their cereals.
When I buy cereal I look at the following:
1. Fiber content - needs to be at least 5 grams per serving
2. Calories per serving - I look for less than 200 and usually buy cereal with about 150 calories per cup
3. Protein - I am a vegan - breakfast cereal is an easy way for me to get a serving of protein
4. the ingredients - I look for all whole grains and stuff I know what it is
I don't worry about the vitamins and mineral content. I eat lots of fruits and veggies and take a multivitamin. I think vitamins and minerals in cereal are just marketing due to the manufacturer "enriching" the cereal.
Kashi Go-Lean is a fantastic cereal. High fiber (10g) High Protein (13g) all whole grain, etc.
Wild Oats store brand "Performance" is great too.
If you don't already, try eating your cereal with soymilk instead of cow's milk.