AZ Icon Editor
AZ Icon Editor, also known as Icon Editor, is a full-featured and powerful Icon Editor for creating and editing icons of any size and color depth, as well as Windows static or animated cursors. The program provides all the icon/cursor drawing tools and a variety of advanced image manipulation... ) Acclaimed as one of the best icon editors around for its reliability, versatility and richness of functions, this application has a comprehensive coverage of icon utilities. ... to convert file formats, to replace an icon in an exe file, or to create library files, etc.
http://www.hermancompute.com/downloadl/azico.exe - 3Mb - Download - Screenshot

RealWorld Icon Editor
RealWorld Icon Editor is a feature rich icon maker and extractor. It is able to create Windows XP and Windows Vista icons directly from images and 3D models. By a single mouse-click, RealWorld Icon Editor automatically renders a 3D scene into image or creates an icon. ... Icons can be modified in raster editor with common drawing tools or custom scripted operations. ... With our icon maker you don't have to be a first class artist and you still can create perfect icons by trial and error in a few moments.
http://www.rw-designer.com/RWIconEditor9x.msi - 9Mb - Download - Screenshot

RealWorld Designer - Icon Editor
RealWorld Icon Editor is a feature rich icon maker and extractor. Its main advantage is the ability to create Windows XP compatible icons directly from images and 3D models. By a single mouse-click, RealWorld Designer - Icon Editor automatically renders your 3D scene into image or creates an icon. ... With our icon maker you don't have to be a first class artist and you still can create perfect icons by trial and error in no time! ... Icons can be modified in raster editor with common drawing tools or custom scripted operations.
http://www.rw-designer.com/9x/RealWorld.msi - 9Mb - Download - Screenshot

Icon Master
It can create icons from any paint program you have. Instead of using primitive icon editors that are usually not better then windows paint, now you can draw icons in any drawing/painting program. Program conversion supports 4, 8, 16, and 24 –bit mode icons. ... With this tool you are able to convert any bitmap(s) into icon, it is simple but professional. ... Use your icons anywhere anytime for anything: for your own programs, website, windows interface design, or just for fun. ... Well… stop reading this, and start downloading that 30KB.
http://www.thealas.com/programs/iconmaster.zip - 42Kb - Download - Screenshot

ICL Builder
Quickly and easily consolidate your icons into icon libraries. Includes a built-in editor for modifying icons right in ICL Builder. Also: Export icons to bitmaps. Import bitmaps as icons. Extract icons from ico, exe, dll and icl files. Build and maintain as many icon libraries as desired with up... Print out icon library files. ... Scan for and eliminate duplicate icons. ... 00 more. ... ICL Builder Plus includes the ICL Builder software, plus a library of 500 pre-made icons, for only $5. ... Edit two ICL files at the same time and drag and drop between the two edit windows.
http://ftp.rissnet.com/screensavers/iclsw.exe - 343Kb - Download

AZ Paint Pro, Icon Editor & Animated GIF Editor
AZ Paint Pro is a graphics application combining (i) Icon Editor, (ii) Animated GIF Editor and (iii) Paint in a single program, hence it is called "AZ Paint Pro, Icon Editor & Animated GIF Editor". It possesses niche of features and capabilities far beyond what an ordinary paint program or a... The program allows users to switch between the many different file formats in the same work session, thus gaining all the manoeuvrability of Paint, Icon Editor and Animated GIF Editor operations. ... One can use it as a professional Icon Editor to create or edit Windows icons and cursors of any...
http://www.hermancompute.com/downloadl/azpro.exe - 5Mb - Download - Screenshot

Junior Icon Editor
Junior Icon Editor allows you to edit icons for Windows Vista, XP, 2003, 2000, ME, 98, 95, NT and other. It supports ICO, XPM, XBM and ICPR icon formats. Using this program you can create and edit icons in either standard or custom sizes, with color depths up to 32-bit True Color with 8-bit... You can set Junior Icon Editor to open to a new icon window or nothing. ... The grid overlay is tabbed, allowing you to open and work on more than one icon, either different sizes of the same icon, or completely different icons.
http://www.sibcode.com/downloads/junior-icon-editor.exe - 1,007Kb - Download - Screenshot

Easy Icon Maker
Easy Icon Maker is a small and easy-to-use all-in-one icon utility for icon making, editing, changing, extracting, and searching . It allows you editing a transparent or opaque icon. The sizes may be 16 X 16, 32 X 32, 48 X 48, 64 X 64 or custom it as you like. ... This version includes three enhanced icon tools: Icon Changer , Icon Searcher , and Icon Extractor . ... You may import graphic file such as BMP, JPG or GIF and save it into icon file or export icon file to graphic file. ... With Easy Icon Maker, you may edit your own professional icons easily and quickly with the built-in editor.
http://www.qwerks.com/download/5136/iconmaker.exe - 757Kb - Download - Screenshot

Sib Icon Editor
Sib Icon Editor is your way for creating and editing PNG-packed Windows Vista icons; icons in either standard or custom sizes, in color depths up to 16 million colors; icons for Windows XP in 32-bit color depth with 8-bit alpha channel. It offers a professional level workshop for designing the... Besides, in Sib Icon Editor you will find some pleasant features that greatly widen the comfort of the program's use: ability to sort images inside icons and icons inside libraries, ability to customize Windows Desktop and folder icons.
http://www.sibcode.com/downloads/icon-editor.exe - 1Mb - Download - Screenshot

Icon Works Pro
Icon Works Pro is an easy to use icon editor that has all the functions for creating and editing icons and cursor files. Icon Works Pro can import image files of major formats including PNG, GIF, WMF, EMF, BMP, TIFF, and JPG.
http://www.iconworkspro.com/iconworkspro.zip - 2Mb - Download - Screenshot