techwrench,
That is true for jars of prepared natural peanut butter, but if you natural grind whole peanuts at a health food store or yourself, the resulting puree is relatively smooth and creamy. You can do a little at a time so you don't have to worry about storage issues.
I usually buy mine at Whole Foods Market. I grind the whole peanuts into a puree which spills from the dispenser into a small plastic container, enough to last me a week or so. Smooth and creamy, no storage issues. I read somewhere with natural peanut butter you grind, it's best to use it within 3 weeks.