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The most interesting feature of this utility is its compression power which is better than any other application, for example, for Zip and gzip files, the compression is 2-10% better than other compressors.
7-zip is a very interesting choice if you want a free compressor.
Finally we have to say that it has been awarded as best project by sourceforge 2007 community awards.
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Do not even dare to think of installing another program to extract .zip, .rar files etc ... This is the best, fastest and free without any complications.
I was wary of uninstalling Winrar from Windows, but since I dared to switch to 7zip I have had no problem.