Hello Dave,
with AutoSTAGE we have been useing WinRAR for the last couple of years. This as a lot of configuration options and can be run from command line (like when integrating into an automated build tool, see here).
WinRar is easy to use if you get into the details of all the arguments and options.
I have not found any limitiations regarding file sizes.
Cheers,
Jens Mueller