When it comes to Honey Nut Cheerios, the taste was very similar for all three brands pictured above- Malt O Meal, General Mills, and Great Value. However, you could tell by looking that the General Mills looked different than the other two- and it definitely had the best texture. My kids preferred the Great Value brand, but the adults with more discerning tastes preferred the General Mills brand.
As far as the cost comparison, the store brand is much cheaper (though you can get a cheaper unit price for General Mills by shopping sales or getting a larger box). If you have kids that eat a LOT of cereal, I would recommend buying Great Value brand.