Datarescue has release IDA 4.9 as freeware. IDA Pro is the de-facto standard for the analysis of hostile code, vulnerability research and reverse engineering in general. You can find IDA freeware here: http://www.datarescue.com/idabase/idadownfreeware.htm
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IDA 4.9 released as freeware
Assarbad has setup a mirror to the freeware version of IDA on the idapalace site. You can find it here: http://old.idapalace.net/news.html