MORPHing

As the name suggests, this programs lets you morph one image into another by generating the in between frames and creating an animation. You can specify how many frames should be generated, the more frames, the longer it takes to generate and the more memory/disk space is needed. Having said that, more frames results in smoother animations. It uses a different method to Apex Media, employing the use of a user-defined grid to control the process. The only limitations seems to be that it only works with 24-bit TGA images and it's very slow. Runs in low resolution.