If the DataGridView will handle your needs, this is the right answer. Another option (although it seems unpopular around these parts!) Is Infragistics NetAdvantage . The disadvantages of Infragistics are primarily the high cost and somewhat steep learning curve; that they are some of the most powerful controls you will ever find, so if you need their flexibility go for it.
I have no experience with Telerik (as others have mentioned here), but they seem pretty good. Being the fact that my company has invested heavily enough in Infragistics, we cannot switch soon ...
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