7-Zip is licensed under GNU LGPL, and the *.7z format has support across all major operating systems. There should be no trouble opening the archives under any operating system, and no need to deal with messages bugging you to register or pay for the app. Source code can be found here.
Allows editing an archive without decompressing
Direct Mode lets you add files to archives without additional steps like saving. This is especially useful for large archives. You can also directly delete files from archives, rename files inside an archive, and move them around – all without recompressing.
Powerful features allow automation of common tasks. For example archives with applications in them can be extracted to the desired Application folder, then the archive itself will be placed in the trash, and BetterZip will exit all with the click of a button. Applescript can also be used to do more complicated tasks.
Quick Look is great, it lets you look inside the archive fast to see how it is organized or if there are any suspicious files you would rather not have extracted.
A great and unique utility for someone who is on a locked down public workstation, or on someone else's computer, one can unarchive using the B1 Online Archiver here.
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