I'm searching for a reporting tool. I heard that RAQ Report is a free reporting tool. But I haven't used it. Who are using it? Is it useful? What is the difference between Crystal Report and RAQ Report?
If you're considering Crystal Reports you should probably audition MSFT's own Reporting Services. Many of the key points of CR (API, canned reports, export to various formats) are just as applicable to Reporting Services.
I've never used RAQ, but if it's a new product you'd have to wonder about how long it will be around, how easy it will be to maintain going forward and whether you can employ someone with skills in it. While CR might not be the easiest platform and its future under SAP isn't entirely clear, it is a mature product with a decent ecosystem and plenty of sources of help.
(The same can also be said of MSRS.)
I notice that the asker seems related to the product. Might I suggest the SO question "Is it bad etiquette to mention your own products in a StackOverflow answer?" as being relevant here?