Actually, I think that might be the best one. It look's really good. It's really a preference and opinion so I can't really say it's the best.
But, I like it, and it's not too high of a price. I'd say that's the best. Also, since it's really a user's preference, why not search
Google to see what pops up first(which TextEff did :-P) Here's what I searched though "best text effect tool for flash cs3". And, like I said, the TextEff was at the top of the list.
By the way, you seem new to the community, Welcome Aboard! :) I ask that you take a brief look over the
Posting Guidelines, as you are a new member, welcome again...
joedeene