IDA Pro is crazily expensive though, and probably not worth it unless you're doing reverse engineering / exploit finding for a living. For example it's a bit overkill for just looking at disassembly to see what code the compiler has written, which (I think) is the common use case of objdump.
That's true, and it seems to bog down easily in my (limited) experience with it. Ollydbg is fast and free, and very navigable. http://www.ollydbg.de/ Oh, it too has arrows. That's what I mean by navigable. 32 bit only though.
Ollydbg has more or less given way to Immunity Debugger, which is what you should be checking out if that's the flavor of reversing tool you're after.
I don't know a lot of people who use IDA as a debugger and like it.
On the other hand, IDA's a better disassembler (and not just because it handles multiple architectures) than Olly. It's the industry standard for a good reason.
Hopper.app is giving it a run for its money on x86 and ARM. Hopper is all I use now.
I think it's ironic that people think IDA is too expensive; it's not expensive enough, given its total addressable market. IDA's prices are so low that they artificially depress the market for all reverse engineering tools, which anchor or orbit around IDA's price point. Hex-Rays is trying to break out of that with the decompiler, but then Hopper did a good-enough decompiler and bundled it into a $100 tool.
Professionals that use IDA (a) rely on it heavily (b) can use the same version of IDA for years and years (c) routinely bill out over 250-300/hr and (d) number in the tens of thousands. It's an interesting business case study.