Which is better : sheet mica or sil-pad?
Mica by a little bit IIRC, but it's a big hassle to use (has to be greased both sides).
There are also ceramic and metal products. BeO being the classic "too good to be true" (too good to be non-toxic, more specifically), AlN and AlNO being much more popular (nearly as good performing, cheaper, non-toxic), and hard-anodize aluminum metal (very good, what with the metal core; and the advantage that it can be grounded inbetween for shielding!). The main disadvantage being, these are all *very* rigid, very flat materials, so you need a great fit to begin with, an uneven surface may lead to fracture, the thickness wastes a lot of thermal resistance, and you still need double grease.
Kapton/polyimide is terrifically bad as a bulk material, but because it can be made in much thinner sheets than mica (which is also a bad thermal conductor, for similar reasons really), and has excellent dielectric properties, it's competitive with the others.
Rubber products are the best when you need "throw the stuff together and forget about it" simplicity. They're generally on the low end (and the "eyed with suspicion" end) of TIMs (thermal interface materials), but they're great because of ease.
Another good way to get heat out of a board is to use a single side layout, and goop the board to the (aluminum) enclosure with one of those sticky type rubber pads (Gap-Pad seems to be the more popular trademark). Or you can still put components on the back side, as long as the pad is tacky enough to flow between smaller components (I wouldn't suggest using anything bigger than 1206 chip capacitors if you need to do this).
If you have a thin pad (10 or 20 mil) and piles of thermal vias, you can stand to get a pretty fair power density this way (maybe up to 5 or 10W per D[2]PAK?). Of course, you could make a sandwich pack with rubber pad and metal plate on the top side as well, which would greatly increase the heat dissipation of resistors and other low profile SMT parts.
For power applications, your best choice is to just use more parts in parallel. Count on less than 50W per TO-220 or 100W per TO-247, and that's with a greased interface, no insulator. Halve it if you need an insulator. If that's not good enough, consider using a heat spreader, with a much larger insulator pad to keep the resistance low.
Tim