Nicer item lists with paralist and compactitem

Personally, I do not like the standard itemize and enumerate environments very much.
To me, they waste a lot of space and their formatting does not look very nice.

The package paralist provides several enhancements to these environments.
One that I like very much is compactitem.
It is basically just a compact version of the standard itemize environment that eliminates all vertical skips. Using this environment, I don’t have to reduce these skips manually.

In general, I use the following structure for my item lists:

  \item[\textbf{Item1}:] TextTextText
  \item[\textbf{Item2}:] TextTextText

P.S.: compactenum achieves the same effect for enumerate