Occasionally I have need to use a terminal emulator. Usually for something like configuring a Cisco switch via the console.
Since I use Windows for this sort of thing, I normally use Putty.
Putty - works great, but it has a terrible user interface. So I went looking for a better program. I found TeraTerm.
TeraTerm has a decent user interface and it has a lot more features, like scripting and drag/drop SCP. It also has Cygwin integration which makes copy/paste much easier than a regular Cygwin terminal.
TeraTerm is a much better free solution than Putty.
TeraTerm is available on the OSDN Open Source Project Page.