Thanks for the links, but i was looking for a FREE control that I could use. I'm not paying $100+ for a licence to use a control to just display a pic!
Another thing about the control:
I'm using the label control, image control, the line control, and the windows media control, all inside a picturebox (big black box).
All of these are "windowless" controls. Even mediaplayer has an option to draw without using a window. This just means that instead of creating its own child-window (or rectangular opaque area), the control "draws" on its container (the picturebox). This lets you have transparent boxes, and lines that don't create an opaque rectangular area around them.
Therefore, to prevent the png from showing up on top of everything else, and to actually be semi-transparent, it will have to be a windowless control.
That's what I am looking for, and it's pretty hard to find.
Edit: Ahh, now I found out what you call it. Windowless control a.k.a lightweight control
Edit 2: Lol. The original edit looked like I found the control, which I HAVEN'T ... still looking for one