iZip is the easiest way to manage .ZIP, .ZIPX, .RAR and other archives on your Mac. Requires Intel, Mac OS X 10.6 or later. Released by the group Lz0 & including some app optimizations, enjoy.
Description:
When you open an archive with iZip it appears as a removable disk. This allows management of your files right inside the OS X Finder, all view modes including cover-flow just work. For extra security iZip supports up to 256 bit AES zip encryption.
Source
http://itunes.apple.com/us/app/id412758079