For all things ARM, I'm a fan of Rowley Associates "Crossworks for ARM".
I've used all the major toolsets, some for years, including ARM/Keil, IAR, GCC variants (actually Crossworks for ARM does use GNU, but CrossStudio's a whole lot more than just a compiler/linker). When it comes to my own personal projects, I choose Rowley. Their support is helpful, knowledgeable & speedy too.
Also Rowley provides lots of BSP code so you can get up & running quickly.
IAR is good, but it's expensive, and it doesn't offer anything that I need or would pay extra for.
In my current job I (am forced to) use the Keil tools and they're a bit cumbersome, they just seem dated. I also encountered a problem with the debugger (this was a Luminary chip, not the STM32, but I'm sure the same issue would apply.)
As you know there are other players such as Raisonance (sp?), Green Hills, Code Red, etc... I haven't used any of these, I can't say anything good or bad.