Desktop Search

Just a few weeks after Microsoft acquired LookOut to provide advanced search for Outlook, Google released Google Desktop Search. LookOut is mainly focused on OutLook, but also does a little bit with other files, while Google focuses on Office files and also does Outlook.
At the moment I have both tools installed, to see which one I prefer. Of course I expect Google to expand their application very soon, while an upgrade from Microsoft might take a while.

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Desktop Search