"LauncherPro is undoubtedly one my favorite third party Launcher
app for Android. It is one of those Launchers that just works on
all kinds of devices. Simple, lightweight and really fast. I
especially love the 3D App Drawer feature of LauncherPro. It works
silky smooth even though it is an experimental feature. LauncherPro
is currently the default Launcher in my Galaxy S2.
"GO Launcher EX is another really good third party Launcher app
for Android. Unlike LauncherPro, GO Launcher EX has tons of themes
and awesome widgets to play around. And GO Store widget lets you
easily browse through available themes and widgets made exclusively
for GO Launcher EX. It combines simplicity with flamboyance rather
well. My only gripe is that, GO Launcher EX occasionally cause
overheating in my Android."