IconCool Editor is a powerful icon editor. And there's more to it, you can edit cursors and web graphics as well. I never thought that somebody should be so interested in creating icons, but if there is somebody from you, than this should be a helpful tool.
The idea of drawing icons is very simple. The whole drawing will be integrated in a square divided in other little squares. Such a square will include from 16x16 to 80x80 little squares. A line will be an array of squares filled with color. Just to make the drawing more interesting, the application includes more than 50 filters and 20 image effects. You can capture any image and save it as an icon, or extract icons from exe, dll, icl, ocx files. The icons can be created with a color depth from 1 bit, 4 bit, 8 bit, 24 bit or 32 bit.
Pluses: the capture and extract options.
Drawbacks / flaws:
In conclusion: You can create icons from scratch or almost any graphic file, but don't think that these will appear as the original image.
version reviewed: 5.92
by Soft32 Editors on 06/26/2009: "Icon editor, icon maker and icon creator."
IconCool Editor Publisher's Description
IconCool Editor is a powerful icon editor to edit icons, cursors and web graphics. It comes with all the functions for creating and editing ICO, CUR, ANI, ICL, GIF, JPG and BMP image files. In addition, it offers more than 50 image filters, as well as 20 image effects. You can convert images in 25 formats to icons. You can extract icons from EXE, DLL, ICL, OCX or any other files. Now it supports Vista icon editing and modifying.
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This download (IconCool Editor) is shareware. "Shareware is a marketing method for computer software. Shareware software is typically obtained free of charge, either by downloading from the Internet or on magazine cover-disks. A user tries out the program, and thus shareware has also been known as "try before you buy". A shareware program is accompanied by a request for payment, and the software's distribution license often requires such a payment." More info at Wikipedia.
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Before you Download: 
This download (IconCool Editor) is shareware. "Shareware is a marketing method for computer software. Shareware software is typically obtained free of charge, either by downloading from the Internet or on magazine cover-disks. A user tries out the program, and thus shareware has also been known as "try before you buy". A shareware program is accompanied by a request for payment, and the software's distribution license often requires such a payment." More info at 
