I believe (and I'm wondering why nobody mentioned it, European gallantry I
suppose:-) there is also TCAD (alias Solidis) developed in Switzerland and
that seems to be fine...
http://www.ise.ch/index.htm
You may want to check it, I believe the team of Prof. Baltes was strongly
involved in its development.

Finally, you should also not forget ANSYS. I have seen an impressive
presentation about v5.6 (coming up soon (Jan maybe):-) which incorporates
new features specific for MEMS simulation... ANSYS seems to figure out that
they should not let go the 'other' too far, and this move in the MEMS
simulation arena must give some bad nights to a few guys there...
http://www.ansys.com/ (actually I could not find anything on the website
about the MEMS initiative, except partnership with MEMSCAP and Tanner, thus
contact them directly...)
One definite advantage I see to ANSYS in the academic world (I'm not sure
for which use you want it) is that any school of engineering already HAS it
and it will cost only a few bucks, shared by many, to upgrade. In the other
hand, even for academic, the other tools are pretty expensive (I'm not
saying that they are overpriced, I understand the enormous cost of
development such tools need... and the small market)... but, let's wait a
bit, this may change soon :-)

Franck