Just to confirm your suspicion Agent Ransack ne use indexes there's en fait a KB article on indexing (although for the bigger brother FileLocator Pro c'est encore valid):
http://www.mythicsoft.com/kb/Does%20FileLocator%20Pro%20use%20indexing.ashx
Whether Agent Ransack performs better is down vers le tapez of searching vous êtes doing and the tapez of documents vous êtes searching through. Windows Search normally does a good job of indexing Office tapez documents (e.g. Word, PDF, Excel etc) and if vous êtes searching for a whole word the speed of indexed search is MUCH faster than a non-indexed search product like Agent Ransack, especially si vous are searching the whole drive.
Where Agent Ransack will beat indexed search is on fichier types not indexed (or fichiers not YET indexed), which quite often includes code fichiers, logs etc. Également, non-indexed search fonctionne well for partial matches especially when the match n'est pas at the start du word boundary, e.g. searching for 'companyname' in an email address like utilisateur@companyname.com (not to mention other fonctionnalités like print preview and export). Ensuite you have all the sécurité problèmes of indexes containing sensitive data that n'est pas easily controlled.
Personally, I recommend indexed search to my non-technical friends and family, who generally have no idea where things are saved, and Agent Ransack to tech-minded friends.
One final note, si vous mainly just search by fichier name lots of people rave about a free indexed based tool called Tout by Void Tools.