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EQATEC Profiler is an easy-to-use .NET code profiler.
Some key features are:

* Profile any .NET application
* Only code profiler for .NET Compact Framework
* Only code profiler for Silverlight
* Comes with a command-line version, too
* Use precise instrumentation to present a full method-call graph
* Compare different runs to help you see your optimization's effect
* Fully-featured version is completely free for non-commercial use