Is there a better Windows Console Window?

Try Console 2.

Console is a Windows console window enhancement. Console features include: multiple tabs, text editor-like text selection, different background types, alpha and color-key transparency, configurable font, different window styles

Sorry for the self-promotion, I'm the author of another Console Emulator, not mentioned here.

ConEmu is opensource console emulator with tabs, which represents multiple consoles and simple GUI applications as one customizable GUI window.

Initially, the program was designed to work with Far Manager (my favorite shell replacement - file and archive management, command history and completion, powerful editor). But ConEmu can be used with any other console application or simple GUI tools (like PuTTY for example). ConEmu is a live project, open to suggestions.

A brief excerpt from the long list of options:

• Latest versions of ConEmu may set up itself as default terminal for Windows
• Use any font installed in the system, or copied to a folder of the program (ttf, otf, fon, bdf)
• Run selected tabs as Administrator (Vista+) or as selected user
• Windows 7 Jump lists and Progress on taskbar
• Integration with DosBox (useful in 64bit systems to run DOS applications)
• Smooth resize, maximized and fullscreen window modes
• Scrollbar initially hidden, may be revealed by mouseover or checkbox in settings
• Optional settings (e.g. pallette) for selected applications
• User friendly text and block selection (from keyboard or mouse), copy, paste, text search in console
• ANSI X3.64 and Xterm 256 color

Far Manager users will acquire shell style drag-n-drop, thumbnails and tiles in panles, tabs for editors and viewers, true colors and font styles (italic/bold/underline).

PS. Far Manager supports UNC paths (\\server\share\...)