After software installation, additional option "Open in Web Archives Viewer" appears in IE context menu (context menu appears after you right-click any link). If current link is ZIP or RAR archive, window with the list of files inside the archive appears. Double-click or "Enter" key press on the file you are interested in will lead to opening it with default program, associated with its extension (e.g. Notepad for TXT extension, MS Word for DOC format). Traffic is spent only on the part of an archive where the given file is situated.
Both ftp:// and http:// protocols are supported. If link leads to an FTP-server, in the window appears simple FTP-explorer, allowing you to view contents of archives on the server as well as of the simple folders.
Limitations - no support for continuous and multivolumed archives.