I'm not aware of any Microsoft product that does this sort of thing.
Give The Gimp a try ... it's a very highly regarded open source graphics
editor.
http://www.gimp.org/
I use it when I need a graphics editor. It's very sophisticated, but
it's simple enough to use for my occasional use.
It can save PostScript files. I presume it can read them. I didn't try.
Hope this is useful to you. Let us know.
rms