2600+ Athalon Thoroughbred 333FSB

Asus A7N8X Deluxe (NVIDIA chipset)

1.5GB PC3200 DDR400

slightly overclocked/water-cooled

Windows XP professional

It seems like P5 tampers with the PNG, at one point the icons would show, but they become blank squares with that oval in the center.
I open them in PSP7 and check for an alpha channel, but there isn't one.
It is always a PNG with the entire background filled.
I just give it some transparency and it works fine.