Changes from
back then:
Opera has been replaced by FireFox.
xplorer2 lite has been replaced with registered version.
WinDirStat has been replaced with
SpaceSniffer.
ACDSee has been replaced with
XnView (which has a few annoying bugs, but is generally pretty decent).
Daemon-Tools has been replaced with
Virtual CloneDrive.
Instead of vanilla PuTTy I use
PuTTY tray 
UltraISO, TrID, PEiD, OllyDbg, Spyware S&D, AdAware (eww!), CrapCleaner (why bother) are hardly used anymore. The rest of the items from the 2005 list are still pieces of software I love, and most of them must-haves as well...
The
remaining items from the old list are:
Foxit Reader - small and fast PDF viewer
Notepad++ - free+fast+opensource programmer's text editor, supports plugins
WinRAR - IMHO simply the best archiving tool, with great commandline options
Screenshot Captor - need I say more?
PuTTY and related tools - SSH client and more, for connectivity with my linux box
WinSCP (secure copy) - graphical SFTP/SCP client, again for linux connectivity
SubVersion - great source/version control software
SysInternals tools - especially pstools and Process Explorer. "pskill iexplore" is useful if you enter one of those a-zillion-popups websites.
WinSpy++ - spy on windows classes etc. (I also use their lightweight hexeditor)
Added to the list are...
Switcher - exposé clone for Vista and later, which works wonders when switching between lots of apps on multiple monitors.
clipx - the best clipboard history manager I've found so far.
FARR - I didn't use FARR in 2005? Shame on me!
Thunderbird - for emails.
Sunbird - for remembering dates & events.
Pidgin - for instant messaging (even if it's somewhat bloated and has a few bugs).
fSekrit - for snippets of privacy (and shameless self promotion).
TrueCrypt - for large amounts of privacy.
Beyond Compare - for figuring out changes, directory trees as well as file contents.
ImgBurn - for all my cd/dvd burning needs.
Exact Audio Copy - for digitizing my music collection (AccurateRip 
). Wonder why EAC wasn't on my 2005 list, definitely used it back then.
Console - for running multiple consoles/shells in a single tabbed app. Nice when doing development, but unfortunately somewhat buggy and doesn't always handle "fullscreen" console apps well.
foobar2000 - music player of choice. Switched because musikCube doesn't handle .cue sheets.
RegexBuddy - saves time when designing regular expressions.
Website Watcher - for tracking blogs and software updates.
TortoiseSVN - explorer extension for subversion. Has useful commit dialog and decent diffing between revisions.
This is all software I use on a regular basis, much of it on a daily base. Somewhat is a bit specialized, but I've tried confining the list to stuff that's useful for "power users"... it could have been fairly longer if I included development tools as well.
Operating system is 64bit Windows 7 on my workstation and 64bit Windows Vista Business on my laptop.
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