i agree with rastajay... theme studio is so far the best... it does have its shortcomings but the previews option is extremely imortant for themers... both for beginers (like me) and experts (like maampia)

and even though it can't change all the icons, it does modify the unfocused and focused list screens as well as the lower part of the menu screen (editor only has 1 softkeys area), which i think are more important... we complain about the speed all the time... just imagine the stuff we can make if it wasn't so time consuming!?!?!?! but it's still the best tool out there...
(this is actually the reason why i'm begining to make k700i themes... faster... easier... transparency option on everything... fewer illusions to make... animated images...)