bearshare seems to be ok. at least it works and the gui is fast. it seems to loose hosts too fast. and i take the concerns about encrypted stuff and spyware seriously. or at least i try. it's nice you can choose not to install the addware (and it really doesn't then). but security has to be an issue with software sharing files of you (and having full acces rights under windows).

i like the idea behind gnotella more than bearshare. it keeps downloads in memory and retries them when you restart. skins are nice also. but it doesn't run smoothly ... yet.

so bearshare seems ok, but nothing is best. and things will develop further, so keep watching! just my little contribution to this ...