PreferenceCleaner 2 is a utility which aims to simplify the task of deleting preference files. Preference files can become corrupt and cause an application or operating system component to become unstable. Alternatively, if an application has a large array of preferences you might find it simpler to delete the files than to locate a setting which has enabled an undesired behavior.
PreferenceCleaner 2 also includes an update manager to help make sure you don't miss bug-fixes or new releases.