"PerfectDisk is the only defragmenter demonstrated to increase fragmentation during portions of its run. Presumably this strategy is avoided by the other vendors because 1) it has the potential to significantly slow the defrag process, 2) it can result in greater net disk fragmentation in the event that the process is stopped early due to schedule constraints, and 3) it was shown to create numerous, persistent fragments in critical files such as large database files, as demonstrated in the following set of benchmarks."
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Winternals Defragmenter White Paper
PerfectDisk is an aggressive free space consolidator, which is largely irrelevant unless one is working with very (very) large files on a heavily fragmented drive, if not actually counterproductive in the scenario tested above. PerfectDisk attempts to do a more thorough job in one pass at the expense of time, a philosophy that doesn't make the most sense given how dynamically data and free space is constantly changing. You may achieve 100% defragmentation and free space consolidation at one moment in time, but so what? Two seconds after the computer resumes its normal duties the data and free space structures are again changing significantly (as well as the needs of the file system and MFT).
Windows Disk Defragmenter (WDD) has been refined over a decade with development assistance from Executive Software (Diskeeper), Intel, Microsoft, and Seagate to achieve a better 'working' defragmentation that actually improves over time through XP's background statistical analysis (Cache Manager) and
prefetch mechanism.
German computer magazine c't did a comparison of Diskeeper Pro, MST, O&O, PerfectDisk, Norton SpeedDisk, and WDD integrated in XP SP2. WDD was the only defrag utility to actually and measurably improve performance (boot time)...and its free.