Universal Extractor is a small, light program designed to do just what it says on the tin - extract (almost) any description of compressed container or installer file, leaving you free to access the files within.
The Universal Extractor developer says that it is a work in progress, and it's certainly true that the app is very basic. The main window is tiny, with just space to add the original file (add manually or drag and drop) and specify the output location. Press OK and the contents of the compressed file will appear in a regular one.
For an app so small, Universal Extractor has decent configuration options and context shell integration, which is really useful for quick extraction jobs. It also scores highly for its multilingual options. Bear in mind that Universal Extractor isn't a replacement for your normal decompression program - but even so, it is a handy little app to have around.
For tackling compressed files of all types, Universal Extractor is a very useful addition to your desktop.