It is definitely an annoying process. Particularly the reseller process with Authorize.net.
I've heard some good things about First Data (the Spreedly guys recommended them - and they have lots of experience with merchant accounts). I don't trust paypal anymore.
I put together this page on BuyersVote.com to get some submissions/votes:
http://buyersvote.com/categories/the-best-merchant-account-p...