Google Desktop Search 2 kicks butt!
Google just released a new version of their Google Desktop Search software. It has tons of configuration options and a new "sidebar" to help you keep information ready at your fingertips. As a developer, I also like the extensibility which now includes many 3rd-party file parsers and sidebar add-ins. If you are interested in writing your own plugins, there are even a couple .NET Wrappers available.
There are numerous other improvements I havent mentioned, but you can read about here.
It seems like Google is always one step ahead of Microsoft in this arena. I don't care because its the end-users who benefit from such competition.
Score 1 for Google!