I use the wired one.
I'm not sure if MS drivers have improved, and a lot of games have native support for the 360 controller now, but I still like XBCD 360. It offers complete customization of the controller, profiles for games, deadzone adjustment, rumble, and more.
First, get
XBCD
Then get the XBCD 360 drivers
here
Well, actually it looks like there is a
new version that has XBCD and the XBCD 360 drivers packaged together. Also looks like it works in Vista x32 in compatibility mode. No support for wireless yet.
Check out
this site for a few profiles in the Download section, and mostly for the Game Specific forum under Help. I got the majority of my game profiles (for games that didn't work right with default config and I didn't feel like figuring it out) from the Game specific forum on there. Note you need to register and login now to view that forum.