If we're talking "Home-grown" in the truest sense of the word i can't see many stepping up. James Walker probably has the best chance considering our somewhat limited striking options.
However the current trend for clubs (especially Premier League Clubs) is to buy the youngsters at an early age from other clubs and develop them over here. I don't really count this as home grown (Gislasson, Brandao, Staunton etc) as it is basically talent spotting rather than finding a kid at the age of 14 from the South East area who has been one of us all of his footballing life.
I know he is not home grown exactly, but I am told they have very high hopes of the Finnish centre half is it Jaski Tanska or something or other. We beat Chelsea & Arsenal to him when we signed him.
I saw Harry Arter play against ManU in the FA Youth Cup at Old Trafford last year. He really did stand out as one of the best players on the pitch, even though he was only 16 at the time. If he is properly treated I think that he could be a real star in a couple of year's time.
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However the current trend for clubs (especially Premier League Clubs) is to buy the youngsters at an early age from other clubs and develop them over here. I don't really count this as home grown (Gislasson, Brandao, Staunton etc) as it is basically talent spotting rather than finding a kid at the age of 14 from the South East area who has been one of us all of his footballing life.