I have tried out numerous terminal emulators and I have to say that the venerable xterm is still king for me. Setting the background to darkslategrey, the foreground to gold, the cursorColor to green and the pointerColor to yellow gives me a very easy to look at window. The scroll bar is mandatory as is paste with middle mouse button. Copying defaults from one machine to another is simple since everything is in ~/.Xresources. And I like my 7x14 font.
Now if you are talking about terminal emulators for 5250 terminals, that's a whole different story. In that case I like tn5250 but even more so x5250 because I wrote x5250 :)
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