What is the current state of text-only compression algorithms?

Question

In honor of the Hutter Prize, what are the top algorithms (and a quick description of each) for text compression?

Note: The intent of this question is to get a descript

Answer 1

If you want to use PAQ as a program, you can install the zpaq package on debian-based systems. Usage is (see also man zpaq)

zpaq c archivename.zpaq file1 file2 file3

Compression was to about 1/10th of a zip file's size. (1.9M vs 15M)