There are a number of options out there besides MasterTools at this point. It comes down to what you want software to do for you, and what you are willing to pay for it. PCGen, as I understand it, is a great program if you are using certain books and features already programmed. They work pretty hard to bring you the rules and supplements from a number of products, so if you are playing in FR or any thing like that you are setup already. RPM, for at-the-table use I am lead to believe is basically unsurpassed.
Naturally, I feel that Campaign Suite is perfect for game-prep, or for you to manage your own PrCs, races, classes and rolling encounters. Being able to take a creature stat, and turn it into a race for use in the character generator, makes a lot of difference when you are using your own material or only creature stats that are published somwhere else. Instant random encounter tables, and stocked dungeons/overland encounters are a big plus. And, with some prep, you can use it for NPC equipment generation. I won't list all the features here, I'm just pointing out some of the areas that it is best in. Doesn't support FR or other peoples IP, but getting expanded into other D20 markets like The Hunt: Rise of Evil from Mystic Eye Games.
I've heard some good on DMs familiar, at least from Second edition players, but I am afraid I haven't heard as much as I'd like to put out anything fair. Not that I was entirely fair about my own software, but then, who can be?
Good luck, and I hope you don't have to wait until August!