Just to throw my 2 cents in here, I agree with crusader in that ASProtect is better than Armadillo. I might even go so far as to say ASPR's the best protector out there (disregarding that Xtreme bullshit that makes your app run 800% slower).

The problem is that no one uses it properly.

If you integrate it into your program tightly, and make heavy use of the encrypted/decrypted sections etc, ASPR can be very effective. Just doing a simple wrap of your program with ASPR is not enough, as you can well see...

Regards