I use
ExtractNow.
It's pretty cool. You hit the extract button, and it dumps the contents into your default folder (or just the temp folder by default) and opens the folder for you.
Free, no stupid nag screens, and it opens ZIP, RAR, ISO, BIN, IMG, IMA, IMZ, 7Z, ACE, JAR, GZ, LZH, LHA, and SIT archives.
That means you can open ISO, BIN, and IMG images like archives.
I don't know if this program
creates archives, but you can hang onto WinRar for that.