If you are looking for a converter which can make video file out of your photos, just the way I was searching for one, here is the one which converts photos/videos into AVI video format. It is absolutely free.
Foto2Avi takes vast range of image formats (including BMP, JPEG), video formats (including FLV, MPEG) and Audio (including MP3) and can convert them into Video formats (include Xvid, FLV, MPEG) or Audio formats (including MP3).
It also allows you to add various effects to your videos for the final output. You can add subtitles or logos into your videos using this software.