What Is Your Favorite Android Launcher?

The most hardcorest of Android users will root their phones and start from scratch with new ROMs. But, uh, that's more complicated than what the average user wants to go through just to squeeze slightly better performance out of their phone. Luckily, there is an easier way!

An application launcher is an easier way to customize the look and feel of your Android phone without doing any fancy footwork. We're looking for recommendations. What launchers do you all like? Why do you like them?

We'll round up the best responses in a later post. Reveal your knowledge to me!