Shareaza rocks my world
A cooler (and skinnable !) interface than Kazaa's , support for BitTorrent downloads, and access to the FastTrack and Gnutella2 networks all in one place ?
What's not to love ?
BitTorrent is a protocol designed for transferring files. It is peer-to-peer in nature, as users connect to each other directly to send and receive portions of the file. However, there is a central server (called a tracker) which coordinates the action of all such peers. The tracker only manages connections, it does not have any knowledge of the contents of the files being distributed, and therefore a large number of users can be supported with relatively limited tracker bandwidth. BitTorrent is designed to work better as the number of people interested in a certain file increases, in contrast to other file transfer protocols.
One analogy to describe this process might be to visualize a group of people sitting at a table. Each person at the table can both talk and listen to any other person at the table. These people are each trying to get a complete copy of a book. Person A announces that he has pages 1-10, 23, 42-50, and 75. Persons C, D, and E are each missing some of those pages that A has, and so they coordinate such that A gives them each copies of the pages he has that they are missing. Person B then announces that she has pages 11-22, 31-37, and 63-70. Persons A, D, and E tell B they would like some of her pages, so she gives them copies of the pages that she has. The process continues around the table until everyone has announced what they have (and hence what they are missing.) The people at the table coordinate to swap parts of this book until everyone has everything. There is also another person at the table, who we'll call 'S'. This person has a complete copy of the book, and so doesn't need anything sent to him. He responds with pages that no one else in the group has.

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