Program-Transformation.Org: The Program Transformation Wiki
Commercial tool. From the web page: PE Explorer is a tool for inspecting and editing the inner workings of Windows 32-bit executable files: EXE, DLL, OCX, and several other Windows executable formats. Once inside, file structure can be analyzed and optimized, hostile code detected, changes made and resources repaired. PE Explorer Disassembler utilizes a qualitative algorithm designed to reconstruct the assembly language source code of target binary win32 PE files with the high degree of accuracy. PE Explorer also provides: an API function Syntax Lookup, Dependency Scanner, Section Editor, and a Resource editor.

The link to PE Explorer homepage.

They make some strong claims about the built-in disassembler, e.g. The Borland VCL object model is designed in such a way that we think it will be possible to reproduce the original assembly language source code perfectly. At Heaventools, improving the disassembler is an ongoing part of our PE Explorer development efforts. It sounds like they've tried to achieve most of the power of something like IDA Pro, while requiring less skill or knowledge, by automating more of the disassembly process.

The PE Explorer disassembler page.