Sorry for digging up this old thread, but I wanted to share another program that I recently found. Its called Picture Watermark, and as the name implies it does nothing more than watermark pictures. You can use images, text, exif data as watermarks. It has a large selection of fonts & styles & effects, like drop shadows, opacity, rotation, etc.. It works in batch mode, and is very quick. Thier website does a better job than I will at explaining all the features, but the nice thing is the price tag - $29.95