I have to disagree
This was true for a long time, and I always used mc. I still do for root work, its ideal for a quick edit of a config file, moving deleting creating etc.
Then I found gentoo, (the file manager, not the distro), which is nearly the perfect file manager, but no drag and drop. Takes a bit of setting up too, but once its set the way you want it its awesome.
Now I use Konqueror, it has to be the most complete file manager there is. I love the multiple windows, it makes distributing files so easy, especialy with the built in ftp/web clients and the built in terminal emulater is really usefull. Its not perfect though, just the best there is yet.