Until LaunchBar came along, DragThing was my favorite launcher. But once I became familiar with LaunchBar, I started using it and discarded DragThing -- LaunchBar works much better for me because I'm a touch typist and hate to use the mouse.

Nowadays, there are three system utilities that I keep running at all times, and can't (or don't want to) do without: LaunchBar, QuicKeys (which I use to get emacs-style keybindings in every program on my entire system!), and Default Folder (for better integration between open/save dialogs and the Finder).

That said, there's one change that I'd really like to see in LaunchBar. Since command-D is supposed to be the equivalent of drag-and-drop, I wish it would obey the default drag-and-drop actions that I've set in the Preferences. But for something that minor, I certainly won't subtract any points from my rating :-)