Megaupload is probably the most popular one-click file hosting service provider after Rapidshare (Alexa Comparison) and like all other similar services imposes downloading restrictions for free users, apart from the 45 second wait-timer, Megaupload also restrict users from non-english speaking countries from downloading files at peak hours with error:
All download slots assigned to your country are currently in use. Please try again in a few hours or install the Megaupload Toolbar for immediate access - with the toolbar installed, there are no more slot limitations for you!
However, megaupload's alexa toolbar is classified as SPYWARE by various security softwares and many users do not prefer to install the toolbar. Their exist several megaupload download hacks to bypass these restrictions but majority of them are outdated and do not work now.
Megaupload Downloader 2008 is a new free utility to bypass restrictions imposed by Megaupload allowing anyone to download unlimited files, the software is easy to use and works similar to your existing browser. You can also search for files on megaupload using the in-built file-search options.
With just 88 Kb's (without Installer, Second Link) in size this can't get better.