A lot of people are happy with the HTC 17 kernel. Just know that if you want to use setcpu, you're a bit limited.
I've used the following so far:
1) Ziggy's for myn's warm - it was unstable for me. It caused a few random reboots. I didn't keep it much after that, so I can't speak to battery life.
2) Ziggy's 11/24 - Pretty smooth, but had random choppiness here and there. I also had some inexplicable battery drain like others have said. It actually dropped 8% during the night once, which is a lot for me.
3) Kings BFS 12 - Nice and smooth, but random apps on the sdcard stopped working. I didn't give it more than 10 minutes.
4) Netarchy 4.2.1 BFS More HAVS - BFS kernels have always made my battery drain a little faster, but usually were smoother than CFS. For whatever reason, the battery still drained faster, but it was kind of choppy
Current) Netarchy 4.2.1 CFS More HAVS - great battery while sleeping. Drops only 1 - 3% in an 8 hour night. It can be choppy at times, so I have it overclocked to ~1.2 GHz to overcome that. Surprisingly, battery life isn't as bad as you'd think with an overclock like that. It's also very stable for me with absolutely no reboots. I might be lucky there, though. Not only do some people have issues with aggressive HAVS, but overclocking higher than ~1.15 GHz doesn't work for a lot of people. I have been getting about 24 hours with moderate usage, including a 7-8 hour night. I can get an entire weekend out of it if it sleeps most of the time.
EDIT: Oh, and I'm only using setcpu to overclock. I have no profiles set; you shouldn't need them with the smartass governor and HAVS - it has been known to actually cause even worse battery when used with profiles.