PowerZip is a free, well designed, and full-featured archive manager.
PowerZip has a Winzip-style interface and provides Windows shell integration for zipping and unzipping files directly from Windows Explorer. Besides the popular ZIP archive format, the program supports RAR, TAR, Z, GZ and CAB formats. It can handle multi-disk archives (as long as you have PKZIP installed) and it can be used to create self-extracting archives.
Other features include: drag-and-drop operation, recursive file selection, the ability to view files contained in archives, and the ability to test and repair archives.
This new release creates smaller self-extracting files, adds support for ARJ files and multi-disk ZIP files, and offers an improved interface.