IcoFX - IcoFX is an all-in-one solution for icon creation, extraction and editing.
IconWorkshop - Application to create and manage software icons. A must for developers.
IconsExtract - Extract icons and cursors stored in EXE, DLL, OCX, CPL files
IconLover - Icon editor for Windows.
Iconsflow - Iconsflow helps users to design outlined, solid, webby and flat icons
JDraw - Open Source SF.net