I rather like modern MRE's. Mind you i'd not want to eat them often, but they're great for an emergency kit. MRE's are more portable than a bunch of canned goods, so if you need a mobile kit (say in hurricane prone places or earthquake prone places) they're about the best there is - though remember to pack lots of water.
Another option would be dehydrated camp food, such as that sold by REI. This stuff is actually pretty darn good, especially after an epic hike where the last 1.5 miles climb 1500' (it sucked, a lot). But you'll usually need a stove and pan to heat water in. They aren't cheap though.
I think, dollar per calorie, you get a good deal on MRE's. It might, however, be healthier to go with a less convenient option or those REI camping meals.
This thread reminded me that I need to update MY emergency kit. I do live in about the most earth quake prone place on earth.