But by far the most time saving feature I have is the type searching functionality in it! For example, one can type 'ack --java System.out' and it will search ONLY the java files! No more 'find . -name *.java -exec grep -Hni System.out {} \;'. And you can add custom types easily through your .ackrc, it is a very well put together piece of software.
(PS: If you're trying it, definitely try out 'ack --bar')