I've made the sauce from an Alton Brown recipe for ribs, where you take the juices you've cooked the ribs in (in foil in the oven with margarita mix, orange juice and his number 9 spice rub) and add stuff (honey, worchestershire sauce, coffee, etc.) to it, boil it down, reduce by half, and it turned out delicious. But it only makes enough for the ribs you're making at the time and it is way more labor intensive than I care for.
I'd say it's better than the commercial sauces, but I've only made it once successfully.