Copied from FastStone Homepage:


FastStone Image Viewer is a fast, stable, user-friendly image browser, converter and editor. It has a nice array of features that include image viewing, management, comparison, red-eye removal, emailing, resizing, cropping and color adjustments. Its innovative but intuitive full-screen mode provides quick access to EXIF information, thumbnail browser and major functionalities via hidden toolbars that pop up when your mouse touches the four edges of the screen. 
Other features include a high quality magnifier and a musical slideshow with 150+ transitional effects, as well as lossless JPEG transitions, drop shadow effects, image annotation, scanner support, histogram and much more. 

It supports all major graphic formats:

BMP
JPEG
JPEG 2000
animated GIF
PNG
PCX
TIFF
WMF
ICO
TGA

The program can also open CUR and PSD images.

It also supports popular digital camera RAW formats:

CRW
CR2
NEF
PEF
RAF
MRW
ORF
SRF
DNG


Features
  

Image browser and viewer with a familiar Windows Explorer-like user interface

True Full Screen viewer with image zoom support and unique fly-out menu panels

Crystal-clear and customizable one-click image magnifier

Superior Red-Eye effect removal/reduction with completely natural looking end result

Image modification tools: Resize/resample, rotate/flip, crop, sharpen/blur, brightness/contrast, etc. 

Eleven (yes, 11) resampling algorithms to choose from when resizing images

Image color effects: gray scale, sepia, negative, Red/Green/Blue adjustment

Image special effects: watermark, annotation, drop shadow, framing, bump map, lens, morph, waves

Multi-level Undo/Redo capability

One-touch best fit/actual size image display support

Image management, including tagging capability, with drag-and-drop and Copy To/Move To Folder support

Histogram display with color counter feature

Compare images side-by-side (up to 4 at a time) to easily cull those forgettable 
shots

Image EXIF metadata support (plus comment editing for JPEGs)

Configurable batch processing to convert/rename large or small collections of images

Slideshow creation with 150+ transition effects and music support (MP3, WMA, 
WAV...)

Create efficient image attachment(s) for emailing to family and friends

Print images with full page-layout control

Create fully configurable Contact Sheets - just like the pros (and save $$$ on ink)

Create memorable artistic image montages from your family photos for personalized desktop wallpapers (Wallpaper Anywhere)

Acquire images from a scanner

Versatile screen capture capability

Powerful Save As interface to compare image quality and control generated file size

Run favorite programs with one keystroke from within Image Viewer

Create a no-install fully portable version of the program which can be run from a removable storage device

Configurable mouse wheel support

Supports multiple program skins

Supports dual-monitor configurations

And much more... 


No Adware No Spyware
Free for Home Users 


Changelog: 


Now it is possible to draw callout (cloud, oval, rectangular...) objects in "Draw Board"

Translated user interface into 15 languages

Added option "Number of Copies" in the "Print" dialog

Added option "Color Subsampling" (also called "Chroma Subsampling") for saving JPEG files

Optimized for better performance

Fixed a bug in version 3.7 that the program cannot auto-refresh when viewing files in a network folder

Fixed a bug in previous versions that the program cannot view animated GIF files with zero frame delay time

Other minor improvements


Comments from the uploader (olofolleola4):
This is my favorite image viewer.
It has all the common editing features that I regulary use.
Try it!