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Rocket/rucola/arugula also tastes nice instead of the basil (but might need a pinch of sugar if you're not using the small young leaves, it can be extremely bitter)
I was gonna write almost exactly that. Rocket is well nice.
If you are gonna go to the bother to make fresh pesto, use a pestle and mortar. Better flavour, and more fun. I personally like to get uppity at the idea of using a food processor (Katrina

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Katrina's recipe is pretty much what I do, but I like to add some butter to the finished pesto. Just beat some room temp butter into the pesto. Tastes very good.
If you are using pesto from a jar, its always too thick. Use some of the pasta cooking water to dilute it a bit before adding to your pasta or whatever.
Classic serving would be serving the pesto on fettucine with new potatoes and green beans. Boil the potatoes, skin on, then slice. Top n tail the beans, and cook briefly in boiling water, but don't overcook. Toss pasta, pesto, potatoes and beans together. If you get really good new potatoes and fresh fresh beans, this is quite wicked, however ridiculously simplistic it sounds.