[There was a 2010 thread about this on the FPSC board, but I thought it deserved at least a second nod.]
I'm just now getting around to advanced texturing techniques (i.e., more than just texturing, blending and scaling) and I was looking for a way to generate normal maps without installing yet
another application.
As a newb to normalmapping, I can't really compare this to anything, but it seems to get the job done.
(Sorry, I know this is very elementary to those of you who are veterans in the game.)
Website:
http://www.smart-page.net/smartnormal/
NOTE: For DBPro novices, you'll typically want to apply your normal maps with the
SET BUMP MAPPING ON command after your object has received its main texture.