"Better" in that it is a) faster, b) gets the parts that block erasers like DBAN can't touch (like reallocated sectors), and c) is certified for Sarbenes-Oxley, HIPAA, etc.
Additionally, erase is guaranteed (if power should fail, the drive will remain in a locked state making any remaining data inaccessible until hdderase is run again).
After I do that, is there some software I can run in windows to check the drive for errors or potential issues?
I have a 150gb Raptor on this system from 2.8 years ago I want to wipe, and see if it's still good if so I will re-use it if not I will warranty it (if I can).
Spinrite would be my recommendation for error checking. It's no free, and its a boot disk. Don't know of anything that is as through as that tool. Great for recovery too.
Use a secure erase tool (DBAN, Secure Erase, Heidi Eraser, even CCleaner can do secure wipes nowadays), then use something like TestDisk to try and do a recovery of anything off the drive.
If that data recovery software (open source, and it works great) can't pull anything off after a secure wipe, you're good to go.