• Slide Show Movie Maker

From author's site:

Slide Show Movie Maker is a free program that can create an AVI-file from a series of .bmp or .jpg images. Images can have professional-looking fade-in and fade-out effects, plus attractive text overlays.

The program's clean-looking interface is logically laid out; you should become productive within just a few minutes of running it. Keep in mind that .avi files can become quite large and take a long time to render. However, Slide Show Maker lets you choose to save output using any one of your system's installed .avi codecs, so the file size and generation time will vary depending upon which one you choose.