is the 7-zip good?
I like it a lot, yes it is good, it's great!
it's open source, it has a small setup file, it has portable version too, both x86 and x64 bit version.
it covers much more kind of compression formats. it can create many different compressed file, password protected and SFX.
I had a Visual Studio 2008 project which I was working on and it was about 45MB and I was going to send it to my friend to complete it, it was going to take a long time to send via Internet, I tried to compress it via 7-Zip program in 7z format... My God!! 45 MB file was only 2MB after compress!!