After reading all the posts that made me want some, I was interested in the ingredients too. Mostly sugar (a few different types - but no HFCS), corn, oats, and banana with some preservatives and added vitamins. You can read the full list here:
http://www.generalmills.com/stream_image.aspx?rid=35713
Cereal in general isn't really healthy, so I normally don't eat it. But since I've been pregnant, I've gone through a box every week or two. As someone else said, there's just something about the sugar, carbs, and milk that are sooo satisfying!