Icon Machine is like a miniature Photoshop made exclusively for icon editing.  Icon Machine can edit all icon sizes (from the classic era) in 8-bits (256 colors) and also lets you apply the icon you're drawing on files.  You can use...

IconDragger + IconDropper + IconPacker is a set of simple yet useful icon tools by and for The Icon Factory icon packs. IconDragger lets you open an icon pack and pick icons that you drag on the desktop or in any application that supports PICT...

Iconizer is a nice little freeware icon utility that allows you to instantly turn a picture you have in the clipboard into a folder of icons, all perfectly aligned as if it was the image in background of the folder window.  All individual 32x32...