Winmorph

WinMorph is a high performance morphing and warping software. With over a million downloads and much more distributed through PC magazines and their CDROMs, WinMorph enjoys a very wide userbase, have been used in movies, roadshows and other projects.

Note:
After installation, go through the WinMorph Guide (in the docs folder of WinMorph installation folder). Please read through the sections specific for Adobe Premiere/Vegas Video/Wax (whichever you use) before starting. In particular, Vegas users make sure to read the tutorial sections on how to use WinMorph with Vegas.