These days, Go Launcher, its free, its skinable, and also has a bunch of free widgests (for me, a sense-like calendar, and a messaging widget).
Go Launcher, I love the sphere effect.
I second both of these... I'm using Go Launcher EX + Transparency theme + ALL go widgets... I started using it because see below...
LauncherPro Plus. I just switched my wife's G2 to LPP because the default ADW in CM7 is laggy as hell.
I purchased LPP, and it was great on virtuous 0.8 - 1.0, but after version 0.8.5 on it just got to be horrible... always force closing, laggy as hell and just plain horrible... also with "auto-rotate" off, when you open the keyboard it doesn't rotate the homescreen as it should...
really frustrating cause I not only purchased it, I purchased the LP Sense theme for the built-in LP widgets so they would look exactly like sense, as I use sense roms... can't do it anymore... every time you come out of an app back to LPP, or if you open the keyboard when on a homescreen with LPP widget, it freezes up for almost a minute and then force closes and takes almost another minute to "refresh" everything on that homescreen...
Go Launcher EX has none of these issues, it is very slight lag when opening keyboard, but I can handle a 0.5-2sec lag depending on what all is running in the background... 60-90seconds with LPP I CAN NOT... federico needs to get it together and finish up his complete rewrite, hopefully then it will be useable... but I still think it will be too little too late as I have come to absolutely LOVE GoLauncherEX + horizontal looping app drawer + cylinder effect...