How to show applied filters in a View? I have defined some contextual filters to a View, i need to show a string like "Applied filters: filter_name1:xyz, filter_name2:ykx".
Which is the cleanest way to do it in Views3?
The best way is to implement a template_preprocess_views_view.  The view object is available as $variables['view'].  kpr this to find the property that has the filters in it.  Process them into something readable.  Then set a new entry in $variables.

Then make a new views-view.tpl.php, and name it appropriately for your view (edit the view, click Theme: Information to see the template suggestions), and add the print statements to output the filter info.