Mozilla Firefox (fx) a fast and useful browser that is open source and provides many add ons developed by regular people like you and I, and is known for it's speed and extensions.
Good browser, but is not the best. There is no such thing as the best as every browser has its pros and cons. Firefox uses a lot more memory than others (Safari, IE7, Opera) Firefox 3 that recently came out is extremely buggy and disappointing.
Yes, it may be better than IE7, and Firefox compares itself against IE7 all the time, obviously, because they cannot beat Opera. Opera is truly the fastest and lightest browser yet no one sees it because Firefox is extremely overrated.
Person 1: IE sucks, Firefox wins! They even said it on their site, they have so much more!
Person 2: But Firefox never compared itself to Opera.
Person 1: Oh... right... Umm.. well Firefox.. I like..
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