Goals are key. Probably the channel cats are the ones hogging the food - they will indeed eat every bit you throw out. I would imagine the blues put a hurting on it as well, maybe even more than the channels since they get bigger. If catfish are your main interest, stick with catfish chow - they'll grow well on it and you won't have to take out that second mortgage for food.

If on the other hand bluegill are the priority, I would suggest removing as many catfish as possible, by any means possible including trotlines, juglines, limblines, bowfishing, etc. Then once the Big Berthas are gone, you can buy some Aquamax and start maximizing your bluegill.