Smart Install Maker is possibly one of the best options you can find to assist you with this task, especially when you take the quality to price ratio into consideration. This is an extremely easy-to-use program that will help you prepare full-featured installers for your applications.
Truly, there are few stones left unturned here. You can limit projects by size (1.44MB, 700MB, 4.7GB or a personalized size), take advantage of three levels of compression, and check out interesting options that allow you to limit installation by Windows version (from 95 to Windows Vista), specify the required .NET Framework, and even link to a download page in case the user needs it.
You also get total control over interface configuration. Personalize colors, available languages, background images, and more, while deciding which screens to include in your finished product (welcome, choose file destination, direct access creation...).
Finally, advanced users can use the fields that Smart Install Maker includes to program their desktop or modify Windows registry entries during installation, or to execute any action from the command line.