I've tried a few of the Launchers: Go Launcher, Zeam, ADW, Launcher Pro, Regina, Metro UI, Launcher 7, maybe a couple more I forgot...
All in all, Launcher Pro Plus is the best one I've found - customizable widgets, customizable docks and icons, ability to change the grid size and number of screens, many great scrolling animations. I've been using it for 5 months now and it never crashed. Some of the other launcher I mentioned have crashed in a few minutes after installing them.
I do use Launcher 7 when I get tired of the whole Android UI look. Very nice and fluid launcher also. Nice animations, smooth scrolling. Widgets like Beautiful Widgets, WinAmp, & Fancy Widget might look weird since they're not really meant for that launcher. But overall, it's pretty nice.
Best bet, just try them all yourself, most of them have free versions.