In the world of convenience foods, there are few creations more ridiculed than the Lunchable, originally a plastic-sealed plastic tray full of nearly plastic food.

The original Lunchables were little more than glorified cheese-and-cracker trays. While those are still available, the menu has expanded to include such things as pizza, mini hot dog and even nacho kits.

But the ultimate question remains: Are they worth it?

Do these oft-derided but widely sold boxes provide a good value for the money? How do they break down nutritionally against similar meals made at home? And does the time saved make up for any monetary or nutritional shortcomings?

The three Lunchables in this test were purchased for $2.50 each. In every comparison, that was more expensive than the ingredient cost of similar foods made at home. Ingredient cost is calculated by taking the total cost of packaged ingredients, such as a pack of hot dogs, and breaking it down to the actual fraction of that package used to create the meal.

So now, let's get to the straight-up comparisons, shall we?

Lunchables Mini Hot Dogs: 390 calories, 11 grams fat, 20 mg cholesterol, 710 mg sodium, 61 grams carbs.

This lunch kit includes three mini hot dogs (roughly the size of Little Smokies), three mini hot dog buns, small packets of ketchup and mustard, a mini Butterfinger crisp bar and a package of Capri Sun 100 percent juice "Fruit Dive."

Our homemade version of this meal used a Hebrew National 97 percent fat-free kosher beef hot dog, a full-size Sara Lee Premium White Whole Grain hot dog bun, a 6-ounce glass of orange juice and a fun size Butterfinger bar.

The homemade nutrition totals: 346 calories, 7 grams fat, 15 mg cholesterol, 670 mg sodium, 59 grams carbs.

And what about the taste? The homemade wins, hands-down. The Lunchable hot dogs are incredibly salty, without much other flavor whatsoever. The buns are styrofoam-like in texture. The Hebrew National dog has some real snap to it, with a great beefy flavor. It is a bit drier than you might be used to, given the low-fat nature, but the taste more than makes up for that.

The winner, hands down, is the homemade lunch. As far as prep time goes, you'll spend 30 seconds microwaving the dog and another minute, tops, assembling the plate.

Next up, one that works out a little more evenly: Lunchables Nachos Cheese Dip and Salsa: 490 calories, 21 grams fat, 15 mg cholesterol, 900 mg sodium, 68 grams carbs.

The homemade version uses one serving of Tostitos Bite Size chips, ¼ cup of Tostitos salsa con queso , ¼ cup of Pace mild picante Sauce and one pouch of Capri Sun Fruit Punch (as included in the Lunchable): 340 calories, 13 grams fat, 5 mg cholesterol, 900 mg sodium, 60 grams carbs.

A large part of the difference in calories in fat comes from the fact that the Lunchable includes a fairly large serving of nacho cheese but only a smidgen of salsa. It's good salsa, with a bit of bite but not enough to turn off the kids. In a nifty feat of snack engineering, the salsa and cheese bins are shaped to allow the mini chips to get every last drop.

Balance the serving sizes of the cheese, and you'd come out fairly even here. But the question of whether an order of nachos constitutes lunch is one you'll have to decide for yourself.

And now, for our final round in the comparison battle:

Lunchables Pizza with pepperoni-flavored sausage: 400 calories, 11 grams fat, 30 mg cholesterol, 640 mg sodium, 61 grams carbs.

The homemade version uses one whole-wheat tortilla, 2 ounces of pizza sauce, 2 ounces of Kraft Shreds pizza cheese and 1 ounce of Hormel turkey pepperoni: 407 calories, 13 grams fat, 40 mg cholesterol, 1,034 mg sodium, 22 grams carbs.

If you were newly arrived here from a planet where pizza had never been discovered and were served the Lunchables version of a pizza, you could be forgiven for thinking you'd accidentally landed in a prison and were dining with the felons. With a gummy and floury crust, completely flavorless cheese and "pepperoni-flavored sausage" that tasted like a Spam experiment gone horribly wrong, the only thing this pack has going for it is some fairly tasty Tombstone pizza sauce.

The homemade version, in which the goodies are piled on the tortilla, then the tortilla is slid onto a preheated cookie sheet and cooked until the cheese is melted, is far more substantial than the Lunchable version and tastes much, much better. If you've never tried turkey pepperoni, you'll be surprised. It's almost indistinguishable from any presliced full-fat versions you'll find.

So, we have one draw and two clear victories for homemade lunches. Of course, convenience is certainly a factor, and the Lunchables by design hit that high point dead-on.

But, especially if you're making lunch for your kids, shouldn't quality have a say?