Here's an effect that I made in Vegas Pro as a sort of Coverflow slide show.
[WMV]http://muvipix.com/cpg/albums/userpics/10215/Coverflow.wmv[/WMV]
This is actually just one "transition" from one photo to the next but I've use Vegas's scripting ability and a bit of Python to change the photos and render it multiple times creating multiple videos that are then dropped into another project that then link seamlessly together.
Render script in this thread here:
http://muvipix.com/phpBB3/viewtopic.php?f=93&t=11347