I'm looking for a great self made Fondant recipe that anyone in business would use. Is there such a thing that can stand up to the test of the pre-made versions (discounting the horrible taste of that stuff!).
Are there any pros out there who use Marshmallow Fondant. Finally, what are the pros and cons of using Pre-made vs self made.
Thanks

theres probably about a million posts on this, but in a brief sumary michelle fosters recipie or marshmallow fondant are the two main popular homemade ones on here. and apparently its cheaper to make too, than to buy.
buying it of course means you can easily get the strong colours, and dont have to make it! you will need to try different brands, as they will taste better than wilton which is what it seems most people try first, and is the worst yasting one.
as to which tastes better, it comes down to preference. some people have more success at making it than others too, which affects how good it is to work with. so i think you just need to try it and see!
xx

Carrie Biggers has a DVD out on making homemade fondant. I use her recipe when I have the time...it's really similar to Michele Foster's (which I also love) and it's incredibly tasty. Commercial fondant has several gum products and preservatives that make it easy to work with. However, I find that Carrie's homemade fondant gives you more working time and you never get cracks.

It's also very economical to make. Based on my pricing, commercial fondant is about $3.30/lb. and you can make homemade fondant for $1.90/lb. However, I think you have to put in the practice so that you know what works the best. The only reason I ever use commercial fondant is when I don't have the time to make it, or when I need black or red.

If you want to check out the DVD, she sells them on her website at Carrie's Cakes.

I think the pros and cons are pretty straightforward but I'll sum them up in MY personal opinion:

Homemade PROS:
cheaper
easily found via common ingredients from the supermarket
no waiting (presuming you have time to make it)
possibly best taste (Michele Foster's IS excellent)
can make small batches as needed

Homemade CONS:
you have to make it! What a PITA
plain MMF (marshmallows+water) sweats something fierce if refrigerated. Michele Foster's recipe does not however.
PITA to color, especially for dark colors
did I mention you have to make it? This is even worse if you need a LOT
squishier; not as good for modeling figures. Adding gum tex or tylose helps.

Commercial PROS:
Just scoop it out and you are done
Vegan (Satin Ice, at least)
tastes anywhere from fine to delicious (as long as it isn't Wilton)
consistent texture and handling; you don't have to wonder if this batch will come out OK
Colors, colors, colors! Esp. black and red. Also you can get true white.
Cakes can be refrigerated with no worries
Wilton is great for figures that won't be eaten

Commercial CONS:
Price
Can be hard to find. Shipping is $$.
If you run out, you're stuck unless you live near a cake supply store
Better tasting brands are harder to work with (e.g. Chocopan)

-->what do you think, did I sum it up OK?

I cant find Michele Foster recipe anywhere! Can someone post a link or the recipe please! Thanks!

Sure, it's right here http://www.cakecentral.com/cake_recipe-3663-0-Michele-Fosters-Delicious-Fondant.html

Thanks everyone. Your tips are invaluable and such time savers. As a Newbie I have to say what an amazing resource CC is. Last question, is there a 12 step program I need to sign up for to help me with my CC addiction!!! Thanks again