I've been using DxO v4.5 with good results but the problem is that DxO 5.0 remains quite unstable. In a side-by-side comparison, Lightroom came off as the most decent, but it doesn't have distortion correction. Almost means I have to stick with Canon's own DPP which has distortion correction.

Apparently DxO 5.1 is now out and at least "Misiriou":http://luminous-landscape.com/forum/index.php?showtopic=25760 reports it seems a little faster althought it still has bugs. And at least some are finding it easier because it is a more dedicated tool that Lightroom plus Photoshop CS3. I had lots of issues with 5.0, so maybe it is time to give 5.1 a chance.

RAW Heavyweights Review: Adobe Photoshop Lightroom, DxO Optics Pro and Capture One | RichNetApps Developers' blog

Adobe Lightroom is the most consistent. It has a nice set of tools and features, solid results and few weaknesses. Itâ€™s integrated features allow the photographer to do all their work, from start to finish, in one program, in many cases with no need for Photoshop or other tools.

DXO is a mixed bag. It produces great colors, especially for nature and its geometry correction tools are a real life saver. On the other hand, itâ€™s very slow, rather very unstable and just not great in terms of processing details. [Edit: Iâ€™ve thought initially that there must be something wrong with my computer but then Iâ€™ve found out on forums that many people complain about DXO 5 stability issues; for me, it crashes 80% of the time, when doing simple things like zooming in or applying sharpness.]

Capture One seems like a very nice "quick" tool. Even though itâ€™s a beta, itâ€™s fast in all areas (UI, workflow and processing), polished and stable. The pricing is also very attractive - just $130 compared to about$300 for the competition