PBase

Lightroom, because it's a good end-to-end solution that's free (for now). Can even use it without photoshop.

For RAW conversion I am using RAW Shooter Essentials (it has been free, though now discontinued). I like the workflow, the color correction, whether to increase the exposure, the fill light, change the WB, sharpen, what format to output.

I also have the program that came in the Canon 30D box. It is pretty good but I am still using the above.

For noise reduction (and I do shoot at ISO 1600), I use ISO-X. It is an automated plugin for Photoshop. Does nice noise reduction without getting too soft.

Blemish removal? I do that by hand. Transparent layer, clone brush 30% all layers/ non-aligned, Channels - Green. Then slide the opacity of the layer back to maybe 85%. For just dusting the shine off the face, 10-15% opacity on clone brush. I just have not found an automated touch-up tool that does not make everything look plastic.

Just my opinions,
Ellsworth Weaver

I am using RAW Shooter (premium) because I can save almost every desperate situation with it... Try to shoot RAW, and you'll never shoo JPEG again !!

I was using photoshop elements but i was not satisfied. I start to use Capture NX from nikon. I'm not sure it's the best software but for now, i'm doing good job with it.

Martin

I used to use RawShooter Premium, but since I updated Adobe CameraRaw to version 3 and higher, I tend to like the latter more.
The workflow in RSP is better, but I found mself still adjusting levels/curves in Photoshop. The conversions in ACR are such that I only need curves for special effects or some local adjustments.
It appears that (some) rawshooter technology is incorporated in Lightroom, so we get the best of both worlds

I think there are no really bad raw converters. It is more whether you are happy with the results and the ease of use. Maybe some converters are biased to landscapes and other to skintones and there is where your choise could be.

I use Phase One's Capture to process my RAW images. The LE version is around $100 but you can get a thirty day trial for free. I did and was sold in the first session. I adjust WB, exposure, and sharpening then convert the adjusted images to TIFF for further editing, saving the RAW files to a disc.

I use Adobe Photoshop CS2. I feel Photoshop is the leading imaging software. In CS2 it allows you to save your RAW file as a Digital negative Format (DNG) file. This is a new RAW format that Adobe has created to be a universal format for RAW. To this point all camera manufactures use their our RAW format which could be a problem in the future if they stop supporting that format.
lad strayer

Phase One's Capture One is the best converter I have used.