WinZip is bloated now, I prefer WinRAR which is about 1.2MB in size
I believe you also have to pay for Winrar and doesn't look to offer anything over the free and popular 7-zip and Izarc. for a description and link see the forums free program list
http://www.sevenforums.com/software/92-free-great-programs-windows-7-a.html
Be warned Izarc is around a massive 10MB and 7-zip 4MB.:sarc:
Another is PeaZIP, a very nice peace of open source.