If like me you have found yourself challenged on an almost daily basis with finding a program that will create multi-sized icons, then this is the program for you. And best of all it is free.
IcoFX is an award winning freeware icon editor. It is an all-in-one solution for icon creation, extraction and editing. It is designed to work with Windows XP, Windows Vista and Macintosh icons supporting transparency.
With a wealth of tools and more than 40 effects at your fingertips, there’s virtually no limit to the icons you can create. You can easily convert your favorite images into icons, or icons into images. IcoFX gives you the possibility to create icon libraries or change icons inside exe files. Create a favicon for your website or blog.
Convert your Macintosh icons to Windows icons and vice versa. With IcoFX you can extract icons from other files, including Windows Vista and Macintosh files. You can easily work with multiple files using the batch processing capability of IcoFX.
At first use, it was simple to use right out of the box, I used a 128x128 source PNG and generated all of the icon sizes I would ever need, then simply saved.
Definitely a recommended tool.