The first thing you need to think about is how small a baby's stomach is.
Definitely cut out the formula at meal time, but also cut out the cereal. They do not need it and in a way it's like chinese food - fills you up quick, but doesn't last and has very little nutritional value.
He should be eating a fruit/veg and protein and maybe have one or two ounces of formula or kefir or even diluted juice.
Stonyfield Farms makes Yo-Baby yogurt that you can give him as well, but any yogurt would be fine. Bananas are good, but you need to make sure you cut them into slices, then cut the slices in half or in quarters. They are soft and easy for them to mash in their mouth, but can still choke a baby if too big.
Pieces of peaches and plums, mashed avacados, pieces of scrambled eggs, mashed potatoes & sweet potatoes & yams, over-steamed broccoli and carrots, soups are good, spaghetti - cut up.
To be honest with you, you can give him whatever you are eating, you just need to make it safe for him so he doesn't choke.
Your choices are plentiful, you just need to remember to try only one different food per week in order to watch for potential adverse reactions.
Have fun, and don't be surprised if you end up picking food up off the floor for the next 10 years. They don't get any neater when it comes to eating :)