I have been looking for a free and easy tool that instructors, and students, can use to make recorded narrated slideshow presentations from their photos. MS PhotoStory 3 is one excellent tool for this.
It is very easy to use. Download it from here but you have to verify your Window XP or Vista is legal. It import photos of any size but over 640x480 works best.
You can add special effects like panning and zooming. You can even make a whole slide show from one photo by zooming into different parts of the photo.
It generates WMV files of various specs for on computer, PDA, mobil device, playing or email sing.
If you need your slideshow in other formats, you can convert with ZamZar.com to other formats.
You can add a voice narration but must use microphone, can't import MP3 or wav files. If you need to do this, use MS Movie Maker.
One of the highlight features is that you can easily add back ground music from a MP3 or CD or you can also generate your own original (royalty free) music.
It if Free but requires Windows XP or Vista. Mac users should use Garageband.