I currently use Spybot S&D, and it is not as effective as some other solutions. I don't know if the updates aren't current enough, or what the issue is.
I have had good results with the online scanner at www.pestscan.com (www.pestscan.com/scan.asp). I have not tried their actual product, but the scanner catches many things that Spybot misses, so I presume their eradication product (which is not free) is at least better than Spybot.
Spybot is a good program, but it just isn't as effective as it could be, in my experience.
I don't have any experience with the other products mentioned.
FWIW...
I have been told to use it in conjunction with another spyware program, Ad-Aware (as recommended here). I don't know if there was any truth to the recommendation but they seemed to think it wasn't ideal to rely on any single program.