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#11
I'm using the Windows Firewall for a long time now, and I find it to be reasonably good. It can successfully block both incoming and outgoing connections, and used it to keep a strong control over internet activity.
Its most notable drawback is that it does NOT provide notification when it actually blocks an outgoing notification, not even as an option. It's important because while it still protects from possible malicious programs, it doesn't warns about that. It also difficults somewhat the proper configuration for legitimate programs. It also prevents it from "learning" from usage.
Another con could be that it's widely know how to add rules to it though the registry, which makes it vulnerable to being tampered by 3rd party programs if you're not aware of it.
Anyway, with Windows or any firewall, the most important aspect of a firewall is what rules do you put on it and its configuration. Do not stay with its defaults, as they provide little to no protection, but once properly setup is made, it can be quite good.