Yahoo's compressor, for a combination of safety, and decent compression.
It uses a real JavaScript parser, rather than using a set of regular expressions. It is able to do the same kind of variable renaming that Packer can, but is much safer. It won't break if you forget to put a semicolon at the end of a function definition.
Packer does have an encoding feature that generates an even smaller file. However, it's only effective if your web server does not support gzip or deflate compression. With gzip / deflate, YUI and Packer generate files that are about the same size.