WinRAR is a new software and it has recently beaten Winzip8.0 by miles in every aspect. If you don’t beleive me just download it and check it out.
It has beaten Winzip in:
User friendliness
Compression ratios
Format support(It has RAR support which can reduce many zip files to half their size)
It can repair damaged archives
It can specially compress special fx files such as MIDI and MP3 and graphic files.
It also has the ability to create a self extracting file in which the header file is smaller than that of winzip.
It is at least 3 times faster than winzip.
I have compared it to Winzip because Winzip is the only other software which can hold a small position agains’t Winrar.
Oh and it is highly reliable for backups.