IMHO, I have found Kosaburos' hair works out the best. There isn't even a single hair item I have found anywhere that looks anywhere as near realistic. As I don't do animation, it works out OK for me. GKDantas is talking about useing a mesh like from Kosaburo and turning it into a cloth material so that it moves around during an animation.

"MeniThings" first made this technique noteworthy and there is an example on their site.