Review:
In 1999, after six long years of wait, PKWare finally decided to release an updated version of its once hugely popular archiving utility PKZip. This update finally adds Windows 9x long file name support, increases the number of files that can be stored in a single archive from 5,000 to over 16,000, and uses 32-bit code for slightly better and faster compression. PKZip is ideal for operations that require wildcards. For example you can't use Windows Zip archivers to test the integrity of multiple Zip files with a single command, but it is simple to do so with a DOS program (e.g. PKUNZIP -t *.zip).
PKZip is very easy to use. However, as a personal preference I like WinZip. I believe WinZip is by far the most widely used, but I have yet to find any user statistics supporting this.
WinZip is packed with features, but of course, it isn't free. I think PKZip is a great "first time" program to use, but if you find yourself either creating a lot of zip files or opening them, I suggest you give WinZip a whirl.