I've been using st, the simple terminal emulator from suckless.org for a long time now. I'm using the Solarized patches provided on the st web page to get the Solarized Dark colorscheme that I like to use. I've also got a couple of extra config tweaks to make st look good to me:
- Use "FreeMono" from GNU FreeFont
- Give 20% more space between lines of text to improve legibility
- Use the advanced list of word delimiters
Patches against st-0.6 to setup this configuration are now available here.