Icon Slate - Icon Slate lets you easily compose, import and export desktop icons in many formats.
IcoFX - IcoFX is an all-in-one solution for icon creation, extraction and editing.
Icon Generator - Icon Generator is a little application built on AIR that lets you generate a CS5 or Web 2.
Img2icns - Image2icon provides the fastest way to customize your icons, easily and free.
icon sushi - @icon sushi is icon converter that supports xp icons, vista icons, bmp, png, psd, exe and icl.
Clic (Vintage) by BlaizEnterprises.com - FREE - Generate stunning icons in 24bit color + transparency.