Now that I have a little more time to pontificate on this...
Here's the thing about antivirus software: for most users, it isn't really needed, but for the rest, the very best is needed. Paradoxical, No?
Here's the deal. In the old days, the main way 99% of users got a virus was via Floppy disk and via email attachments. Floppies are all but dead now and Email attachments are routinely checked by your ISP/Yahoo/AOL/Gmail/Hotmail/whatever before you even download them to your email client. Plus, you can tell a user to NEVER open EXE, COM, VBS, and BAT files (hey, sometimes they listen ).
Here's a true story. I have Kaspersky at my mom's house (uses AOL) and at a particular client's office (10 machines) that used to always get viruses (this latter group wouldn't pay for AV updates, let it lapse, and then viruses would get through - they've changed their ways after they paid me to clean the same user's machine something like 3 times one year). I switched this office to Gmail, BTW.
Anyway, in two years, Kaspersky's logs show NO VIRUSES coming in by email. Z-E-R-O. AOL and Gmail is catching everything before Kaspersky even scans it.
AV scanners are desperately needed, on the other hand, if the user uses Kaazaa or some other P2P program to download illegal and pirated stuff, uses warez sites to get serialz and crackz, or has kids who use instant messenger software to chat with friendz and share files. So much of this stuff is infected with viruses that it's crazy.
When I review AV stuff these days, (and I used to be the primary AV guy for Windows Magazine back in the day), I find my tests mirror what av-comparatives come up with pretty closely. I have my own email server, and it defaults to sending all EXE, BAT, COM, and VBS attachments to a separate account, so I get a very large fresh sample in just a couple of days (about a thousand in a week is average these days). I also download various exes from P2P systems. Then I copy these files over to my various test systems in my lab, install and update the various AV programs, unplug the network cables, and then let a lot of these viruses run wild, and see what happens. NOD32, AntiVir, Kaspersky, and Norton AV do very well. AVG does not. MacAfee is usually somewhere in between.
If you never do this "risky behavior," AVG is perfectly fine, and resource-light and free to boot. But if you do this sort of stuff, even just once, it simply isn't enough.
Norton AV gets a bad rap for being bloated these days for two reasons: 1. most people don't get norton AV by itself; they get Norton Internet Security (which has NAV baked in) or Norton 360 (ditto) and these two can easily overload a system, and 2. they haven't tried it since NAV2007 came out, which really killed the bloat, and NAV2008 did it even more.
Firewalls: You just gotta get a hardware firewall if you at all care about security. Period. Even if you just have 1 PC and DSL, you should get a consumer-grade hardware firewall and let it block the inbound stuff, AND CHANGE THE BLOODY DEFAULT PASSWORD.
For software firewalls, Comodo is quite good, but you know, if you don't care about outbound blocking (and I don't most of the time) the XP default firewall is pretty OK, especially when a hardware firewall is really taking care of business.
Your AV and Antispyware programs should be the things killing rogue apps that are trying to phone home BEFORE an outbound firewall tries to block them. If your software firewall blocking a rogue app, then it's too late - the rogue app is installed and broadcasting.
So, to sum up: the original poster is asking for what we think the best apps are for security. For me, I would recommend, based on my tests and my experience with clients:
AV: Kaspersky 2007 or NAV 2008
Spyware: NOTHING if you're having no problems. If you suspect problems, then Spybot Search & Destroy and Ad-Aware for cleaning (both are free). If Spyware continues to trouble you, then SUPERAntiSpyware to clean the system and to try to keep new stuff out.
Firewall: Nothing or WinXP's, plus a hardware firewall. If you insist on outbound blocking, then Comodo.
Browser: Firefox. Blocks a lot of crud that IE is happy to let in.
And Windows Update turned on to full automatic mode.
-Llama