Honestly I don't think I have ever used either one of these. The one I use supports a huge range of compressed archives so since it's always worked I've never been tempted.
How are they in functionality/options? Do they allow you to open multiple files? Can you drag and drop to and from the archived files? Thought I would liven this post up, and if it's been answered I'm not feeling to well so I didn't read all 4 pages of this thread. Thanks.
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I use the built in extractor in Windows. Suits all my needs.
WinRAR I only install when something I have downloaded is using it (in which case I immediately uninstall it once used). I never ever ever use WinZip; it's far too complexed.