Don't worry foodnfoto...I don't feel insulted, only love to discuss and have a "hot" temper

...mainly when you speak about something I've grown up with! Do you remember the thread about the originality of recipes? Well...when speaking about Pesto, I am just "the native"!
As for basil, we have also had a thread about this point here one month ago and you can check it for more information. Briefly, the basil I have tasted in US is completely different from ours, both for the shape and texture of the leaves (which are much more hard and crunchy) and for the taste, which is too aromatic and mint-like for my italian palate. This is not only due to the different varieties (in Italy we have basically two edible basils, the "Ligurian" and the "Neapolitan") but also to the environment where basil is grown. The Italian Riviera has an unique environment due to its weather and soil, and the basil which grows here is also unique-I'm not saying it's necessarily THE BEST, but it's the one Ligurian Pesto was born with, and it's the only one the Italian Pesto producers use (I mean that you cannot use, in example, the Neapolitan Basil).
Being the american basil so different, probably the blanching procedure is necessary to give it a flavour and a texture more similar to ligurian basil and make it suitable for pesto...
Apart from that, I'd like to add just a couple of things:
The first way to prevent basil oxidation is to avoid the use of blades. Basil should be NEVER chopped with a knife or a food processor, because the contact with a metal makes it immediately oxidyze and change its taste. This is the reason why all the Pesto recipes recommend the use of the mortar. Of course, nowadays also in Italy most people use the food processor to spare time...but you must know that it's wrong and that your pesto cannot be the best.
When ready and put into the jar, pesto is covered with olive oil just to prevent oxidation. To my experience, freezing does not alter significatively its features, unless you keep it into the freezer for many months. I always freeze my pesto with good results. As for cooking...why do you want to cook Pesto? Apart from Baked Lasagne, pesto is supposed to be added raw to any dish...
More, I hope YOU don't feel insulted if I add another consideration. I don't want to generalize, but I had an american Pesto ( in a renowned Italian restaurant in SF) and it did not resemble to our Pesto more than I resemble to Claudia Schiffer. I don't say it wasn't good...but it was not Pesto, it was something else, an American style basil sauce. To tell the truth, I must say that it has been often the same when I tried to eat Pesto here in Italy, but out of Liguria. You also may have the same problem with commercially available Italian pestos, which are sometimes full of odd ingredients (parsley-nuts-butter-spinach and so on) which aren't included into the original recipe (which I posted in January under a thread called "Ligurian Pasta Sauces"). This is the reason why Pesto producers are asking for the "Denominazione d'Origine Controllata" (sorry for the Italian but I can't translate this) for the Ligurian Pesto.
Finally...I must apologize for my "hot" and talkative defense! I hope nobody has felt insulted from my point of view...if so, please forgive me! Like Americans, sometimes also we Mediterraneans can be good patriots!
Pongi