Another free tool that may be helpful to a small network or business is the Spiceworks IT Desktop. It is a bit difficult to navigate for just a home network so be forewarned although it does includes a significant number of features for a free tool: it does perform as an all-in-one network inventory and management tool.
Spiceworks IT Desktop provides a substantial bit of information about each PC connected to your network. The program will inventory a network and provide information about each device on it and I found it deeper than Network Magic. The types of information it provides about each PC and device, is free and used disk space, anti-virus software being used, and problems on the device (such as server connection errors). It will even provide an inventory of the software installed on each PC, in quite a bit of detail.
There are other features as well, such as, easy access to ping and traceroute functions. And it attempts to be a help desk application as well. You can create help tickets with it, assign the ticket to others or yourself, and include due dates, priorities and so on. For someone like me with simple home network needs it is sufficient.