WinRAR 5.01 Beta 1

WinRAR is an archiving utility that completely supports RAR and ZIP archives and is able to unpack CAB, ARJ, LZH, TAR, GZ, ACE, UUE, BZ2, JAR, ISO, 7Z, Z archives. It consistently makes smaller archives than the competition, saving disk space and transmission costs. WinRAR offers you the benefit of industry strength archive encryption using AES (Advanced Encryption Standard) with a key of 128 bits. It supports files and archives up to 8,589 billion gigabytes in size. It also offers the ability to create self extracting and multi volume archives. With recovery record and recovery volumes, you can reconstruct even physically damaged archives.

Download: WinRAR 5.01 Beta 1 32-bit | WinRAR 5.01 Beta 1 64-bit | ~1.9 MB (Shareware)
View: WinRAR Website | Release Notes

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WinRAR is great. I own a license for it - but still unsure the benefits of v5 over v4... I know it isn't all about file sizes but I am see no real difference in compression/decompression and file sizes are slightly bigger in v5.

IMHO, still the best at any price. Somehow guys coding free compression tools can't seem to get the easiness of WinRar usage.