IconEdit2 6.5 | 5 Mb
IconEdit2 is a full-featured graphic manipulation instrument. Alpha channel, multi-resolution and multi color depth, anti-aliasing are supported seamlessly.
Easy to use
Despite advanced features, all of them are easy to use. You can manage color depths and image sizes with a mouse click. All drawing tools produce anti-aliased results automatically. You can paint, undo/redo, search for icons in your files, and create new icons instantly by capturing screen areas or opening image files or photos.
IconEdit2 is shareware. It doesn't cost a fortune. You can download and try it before you buy. Registration includes free version upgrades (within the same major version) and support.
Easy to use;
Alpha channel (semi-transparency);
Multi-image icon files;
256x256 PNG-compressed Windows 7 icon support;
Capture screen areas;
Search icons in your files;
Various image filters;
Import/Export as ICO, BMP, GIF, TIFF, JPEG, or PNG.
Home Page - http://www.iconedit2.com/