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When I create a picture e.g. in 3D Studio Max and save it as Targa Image (.TGA), the alpha channel works well in GE, but when I need an animation, it is not very comfortable to have each frame in separate image, so I want tp create a panorama image, like this one:
But when I do this, the final image has no alpha channel even when I save it as .TGA . I think it's just a matter of software. I use IrfanView to create panorama images, and it seems that it just don't work with alpha channels. Do you know about any (preferably free) program that can create panorama images without loosing the alpha channels of the included pictures?

Thanks in advance.

GraphicsGale preserves alphas in 32-bit images. The full version is $20, and has a Save As option that lays out your animations in strips, either vertical or horizontal (and grid? I can't recall at the moment)

You can play around with the free version but you'll have to lay out your strips manually (exporting to a strip is available only in the registered version)

makslane, is there any advantage (size-wise?) if the file is one wide or tall bitmap as opposed to, say 60 JPEG files?

I prefer having a whole animation in one image as it's much better to work with. I don't know/care about any performance or file size issues. Just it's more comfortable for me.

There is no differences, in speed or size, between get animations from multiple files or in a single file.