For Ice Cream Sandwich users, launcher options are still pretty thin on the ground. Nova Launcher was one of the first, and our current favorite, and of course standard launchers from Gingerbread and further back still work. But the real competition is Apex Launcher, likewise based on the source code from the stock Android 4.0 launcher. It gets a major update today, so try the free version in the Google Play Store.
The biggest addition is theme support, which can incorporate themes designed for a variety of launchers, including ADW, LauncherPro (rest in peace) and Go Launcher. The grid now extends up to 10x10 icons (handy if you're rocking a modded Galaxy Note) and gesture support has been improved. The developers know their audience, and have added integration with the CyanogenMod 9 settings menu for custom ROM users.
Some of the more advanced features (like themes) require the $3.99 paid version, and we're perfectly fine with that. Good on you, Android Does, for offering a free version as well. All the standard bells and whistles are also present, for those who love to modify each and every aspect of their launcher compulsively. Give it a try, why don't ya?