PeaZip is a Open Source packer that supports many formats, much like any other packer out there. The most command formats like zip, rar, ace, 7z are handled but also many lesser used ones like bz2, upx and cab. The user is asked during installation which context menu items he wants to add which is very user friendly. Most packers simply add their entries to the context menu even if the user would never use some of the options.
Universal Extractor
If you ever wanted to have a free software that would be able to handle all the different zip formats then you might want to take a look at the open source program called Universal Extractor. Universal Extractor can only be used to extract archives handling this task excellently. It supports a multitude of zip formats including the following popular ones: 7-zip archive, ace archive, arj, gzip, rar, tar and zip archives.
Freeware Packer Muzip
Muzip is a freware packer that supports formats like zip, gzip and tar. It´s only 460K in size and offers an explorer like interface. It also offers the possibility to backup files on your harddrive and even schedule them using the windows scheduler.
Freeware 7-Zip Packer
If you are looking for an alternative to the windows xp build in unpacker you might want to take a look at 7-Zip. I was always looking for an unpacker besided the big two Winrar and Winzip who are both not free, after some researching I found 7-Zip which handles the most used file formats like zip and rar without problems.

