Active@ Kill Disk - Hard Drive Eraser
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"I love this product and use it frequently."
Pros
This does exactly what I need it to do - COMPLETELY ERASE MY HARD DRIVE. This is great for fresh installs or re-deployments of machines. Also works great if you wish to sell/recycle your hard drive to remove all traces of information. Yes, the paid version allows for more intrusive/destructive measures.
Cons
I have no cons to report on this software.
Summary
You get what you paid for. I paid nothing and got a basic low-level formatting of my drive. Exactly what I wanted and expected from this product. Do you need to use this every time you reinstall and operating system - no. However, if you multiple patches/hotfixes installed, it's like putting Band-Aids over Band-Aids. I prefer to completely wipe the drive clean and do the latest patch/SP install.
As with anything, you need to understand what you're doing and the ramifications of your actions.