Today I found Net Snippets. A free tool that does exactly what I need. I hope you'll like it.

It works with both IE and Firefox. The Firefox extension page is here.

It saves the pages in local folder as html. So it is easier to search from within windows. And easier to share/ make chm.

The only problem I found is (like surfulater) we need to select the whole document to import full page. There is no context menu to autometically import full page.

To add this feature do this,

1.Create a html file with ONLY the following code:
Code:
<SCRIPT LANGUAGE="vbscript">
   
    Dim parentwin 
    set parentwin = external.menuArguments

	set doc = external.menuArguments.document
	set range = doc.selection.createRange
	
    Dim Clipper
    Set Clipper = CreateObject("IEClipper.Clipper")
    Call Clipper.Capture(parentwin)
</SCRIPT>
Save the file.
2.Now, open registry and goto,
HKCU\Software\Microsoft\Internet Explorer\MenuExt

Create a new key called " Add Full Page to Net Snippets" (or anything you like)
In it's 'Default' value write full path of the HTML file we created in step 1.

3. If you like you may change the old keys name to " Add Selection to Net Snippets" or similar.

4.(Re)start IE. The new menu item(s) should appear in context menu.
(For more information see this page)

Opera: As Opera doesn't support extensions, you need to manually copy the page to that folder. Or you may configure your source viewer and create a small batch file/exe that will copy the file to that folder when you click on 'view source'. (You'll miss images though)

P.S. I am abandoning my project