My three favourites are
Eichornia Crassipes (Water Hyacinth):
Pros: This is THE best for removing nitrates, since I started using this I have NEVER had readable nitrate levels (it may also be the reason why the Amazon is nitrate free as it is the primary floating plant in the amazon basin). If you can get it to flower it's spectacular
Cons: It's BIG and needs space above the water, so it's only really suitable for open topped tanks
Water Lettuce (can't find the Scientific name off-hand):
Pros: Good at removing nitrates etc, long roots, doesn't need space on top
Cons: Doesn't flower, degenerates if it gets water on it's leaves, doesn't grow big if it has any competition.
Lemna ??? (the one which isn't duckweed!):
Pros: It isn't as invasive as duckweed, it does the filter thing
Cons: Boring as a politician's speech