With IconLover, you can:
A Manage icons, static and animated cursors, icon and cursor libraries and image lists
A Create and edit smooth semi-transparent icons, static and animated cursors for Windows XP
A Create and edit icons in standard and custom sizes, with color depth up to 32-bit True Color
A Make stylish icons from your images
A Paint images with gradients and fills
A Create multi-layer images
A Modify images with drop shadow, opacity, smoothing, negative, grayscale, colorization, rotation, roll and mirror effects
A Import and export ICO, BMP, JPEG, ANI, CUR, GIF, PNG, TGA, TIFF, WMF, WBMP, XPM, XBM and Adobe Photoshop PSD image formats
A Import Mac OS icons from ICNS and RSRC files
A Manage icon libraries for better and more efficient image storage
A Extract icons from Windows executables, libraries and animated cursor files, ZIP and RAR archives
A Download icons from the Internet
A Modify icons inside executables
A Search in folders for icons and cursors
A Convert or apply effects to multiple icons at once
A Customize desktop and folder icons

Home page - http://www.aha-soft.com