I tend to favour the ordinary use of environments like tabular or array, since it makes the solution easily portable without any bells or whistles. Simplicity perhaps.
Based on the display, I'm going for an array with one column for the left hand descriptors, and 12 columns for the arrangement on the right:

\documentclass{article}
\begin{document}
\[
\begin{array}{r@{\quad}*{12}{c@{\mskip10mu}}}
& n-2 & & n-1 & & & n & & & n+1 & & & n+2 \\
\mbox{Equilibrium:} & \bullet & & \bullet & & & \bullet & & & \bullet & & & \bullet \\
& \phantom{{\leftarrow}}{\!|\!}{\leftarrow} & a & {\rightarrow}{\!|\!}\phantom{{\rightarrow}} & \\
\mbox{Displaced:} & \ooalign{$\bullet$\cr\hidewidth${|}$\hidewidth} & & {|} & & \bullet & {|} & & \bullet & {|} & & \bullet & \ooalign{$\bullet$\cr\hidewidth${|}$\hidewidth} \\
& & & {\rightarrow}{\!|\!}\phantom{{\rightarrow}} & \makebox[0pt]{$u_{n-1}$} & \phantom{{\leftarrow}}{\!|\!}{\leftarrow} &
{\rightarrow}{\!|\!}\phantom{{\rightarrow}} & \makebox[0pt]{$u_n$} & \phantom{{\leftarrow}}{\!|\!}{\leftarrow} &
{\rightarrow}{\!|\!}\phantom{{\rightarrow}} & \makebox[0pt]{$u_{n+1}$} & \phantom{{\leftarrow}}{\!|\!}{\leftarrow}
\end{array}
\]
\end{document}
tablularorarrayenvironment for the textual portion andtikzfor the drawing. Use\tikzmarkto mark the points where the drawing will need to know where things age. Plenty of examples of\tikzmarkon this site. – Peter Grill Sep 30 '12 at 23:09pictureenvironment might be appropriate. – barbara beeton Oct 1 '12 at 12:53