Free Image TOOL: Image Composite Editor, this is the latest version as of May 26, 2011

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SWEET!  A new Imagine Composite Editor as of May 26, 2011!  What are the new features?

Oops forgot the link: https://research.microsoft.com/en-us/um/redmond/groups/ivm/ice/

  • Stitch directly from a video (only on Windows 7)
  • Automatic lens vignette removal
  • Improved blending engine
  • Options dialog to control memory usage and scratch disk locations

This is included with these additional features:

  • Accelerated stitching on multiple CPU cores
  • Ability to publish, view, and share panoramas on the Photosynth web site
  • Support for "structured panoramas" — panoramas consisting of hundreds of photos taken in a rectangular grid of rows and columns (usually by a robotic device like the GigaPan tripod heads)
  • No image size limitation — stitch gigapixel panoramas
  • Support for input images with 8 or 16 bits per component
  • Ability to read raw images using WIC codecs
  • Photoshop layer and large document support
  • State-of-the-art stitching engine
  • Automatic exposure blending
  • Choice of planar, cylindrical, or spherical projection
  • Orientation tool for adjusting panorama rotation
  • Automatic cropping to maximum image area
  • Native support for 64-bit operating systems
  • Wide range of output formats, including JPEG, TIFF, BMP, PNG, HD Photo, and Silverlight Deep Zoom