Foto2Avi is a freeware basic video/photo converter to avi/mpeg/flv. It is an video editor too. Has special effects like ...
Transitions (Flippage,Swirl...)
Basic Effects (Brightness/Noise/Fade in/Fade out)
Advanced Effects (Distort, Ripple)
Animations
Subtitles
Logos

Any of these effects is highy customizable !
You have thousands of effecs right out of the box !
The only limit is your imagination...