I've used HSB, Dietrichs, attempted to play with the homegrown TimberCAD thing, and SketchUP.
I currently use HSB / AutoCAD and SketchUp.
HSB runs inside of AutoCAD. Current version is running in AutoCAD Architecture 2009. I've been using it in Architectural Desktop 2004 up until last month. HSB offers several modules depending on what you are doing with it - panels, timbers, CNC, FEA export, etc. Its a powerful package with a big $$ (similar to CadWorks, Dietrich's, etc).
Dietrich's is another option - I used this briefly in 2006 - but I'm so handicapped by AutoCAD thinking that I had decided to stick with what I know... Dietrich's is stand alone.
I've not used CadWorks but have seen it deployed @ several shops. Powerful looking software - again from what I know a stand along package.
SketchUp is a great program. If you buy SketchUp Pro 7 you can develop your own parametric objects - both timbers and joints as well as stairs, windows, whatever - and you can assign variables (whatever you want) to these objects for list export (price a joint or a timber and have it export with sizes / etc. to a list). The program also allows you to export to DWG and other formats - and is simply the best 'presentation' package I've used - I'll often export my HSB / AutoCAD work to SketchUp for fly throughs, JPGs, etc. It is great for walking clients through a frame in realtime. I use it with a digi projector @ meetings - I'll have HSB and SkethUp open and work the two as a charrette.
If you get into SketchUp be sure to find Clark's (daiku? on the forum) Rubies - which expand the functionality of the software to create shop drawings of individual parts. I'm currently building and testing a library with the Pro 7 features (specifically parametric joints that you can change by pull down menu as opposed to drawing 10 different tenon styles, for example) with the Rubies. For about $500 you can have a very powerful timber presentation / modeling program (that is also good for furniture, house, etc. design). Add in a copy of AutoCAD LT and you'd have a powerful package on a budget for developing timber work in CAD.
But - there is no beating the functionality of one of the premier timber design applications - HSB, CadWorks, or Dietrichs. Very powerful... if you can afford it or do the type of work where the software blends into not only the 'design' phase - but also estimating, presentation, coordination, and manufacturing.
And this assumes you are on a PC.
-Mike