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I just found this posted over on Polycount, downloaded and had a little play with it. Its a free normal mapping tool, and from what I've heard other people saying, its a lot easier to use than ATI's one.
For anyone who wants to get ready for modelling with these next gen engines, I'd suggest to go have a look!
thx major clod, Ive got 3 models being made with normal mapping in mind, this should come in handy.