Morph, warp and distort images in a professional and high quality way. This program gives you all the freedom you could possibly ask for from a free package.
It works as standalone application or as a plugin for various video editors, it offers advanced keyframing, blending and distortion tools for total control and can even do dynamic morphing with various input(JPEG, BMP, PCX, PNG, PBM, TGA, TIFF) and output (JPEG, BMP, PNG,TGA, TIFF, AVI, MPEG and SWF) file formats. Are you sold, yet?
Distributed as freeware for business or personal use.