If you don’t need the built-in sorting or swap support and want more control over the processed output, I would consider using the Repeater control to display the table. If you need built-in sorting / swapping, then GridView can be very useful.
If you want the best of both worlds, upgrade to ASP.net 3.5 and use ListView.
EDIT: can you clarify what you mean by “on-the-fly hyperlinks for each row”?
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