If you are just placing images on a form then the answer is Yes.
I have always been partial to Microsoft PhotoDraw myself. To test your
workflow, I placed a map (screenshot) on a form. I then used PhotoDraw's
transparency and Designer Effects tools successfully.
Problem is that you can't buy PhotoDraw from Microsoft any longer. But any
graphics program should work but perhaps not as easily as PhotoDraw. If you
can find it on eBay, it still works with Windows through XP and Vista. It
doesn't have all the bells and whistles that PhotoShop has but it one MS
program that gets kudos from me.
LDN