Features:
- Supports screen captures in BMP*, GIF*, JPG, PNG formats (*not on all devices).
- Add captions to screen captures.
- Obscure sensitive information in screen captures.
- Choose the saved image file name.
- 4 capture options:
    >> Screen: Capture active app.
    >> From task list: Capture a specific app from task list.
    >> Timed: capture screen after time interval.
    >> Repeat: Repeat any of the above captures with user-selected interval and user-selected max captures.
- User-selected folder to store captures: v0.5 adds support for storage cards.
- Built-in thumbnail viewer.
- Built-in image editor.
- Supports Portrait and Landscape, and VGA (Still testing).
- Command line options (separated by spaces):
    >> quick: take one capture.
    >> shoot: run captures according to above settings.
    >> silent: in combination with one of the above closes app after capture(s).
    Example: Capture the screen without showing the CapSure window.
    CapSure.exe silent quick

Freeware - No warranty. Use at your own risk. CapSure has been tested on Wizard (WM5), TYTN II (WM6), Touch (WM6.1).

Update Description:
v1.11a:
- Release for VGA testing.

v1.11:
- Gracefully handles folder access errors.
- Improved Emboss and Blur.
- Command line bug fixed.

v1.10:
- New image editing features added: Emboss, Contrast, Resize, Rotate, Crop.

v1.09:
- More obscure options: Blur, Rainbow, Random.
- Now supports PNG format.

v1.08:
- Users can now control file name with wildcards.
- Examples: %h=hour, %y=year, %n=counter, etc.
- Help button next to Save As lists all supported file name wildcards.
- Slightly improved obscure.

v1.07b (08-05-2008):
- Still working on VGA support.
- Program runs at about 1.2 MB RAM but processing large images in browse and edit requires much more.

v1.07:
- Add captions to screen captures.
- Obscure sensitive information in screen capture.
- Now ready for VGA? - Need testers.
- Box and shadow around preview.
- Scrollable number boxes for some settings.

v1.05:
- Improved Folder Selection - loads faster, includes all folders.
- Minor cosmetic changes.
- Smaller EXE.

v1.0 (10-03-2008):
- Fixed: Resizes well with orientation changes.
- Fixed: Help window no longer covers target settings.
- CAB Installation now.

v0.5:
- Added: Storage Card to folder browse.

SOURCE

http://forum.xda-developers.com/showthread.php?t=375573

Reviews:

*** [Mar 11, 2009] by 2 Bunny using hp iPAQ 4150 (Windows Mobile 2003)
This is an okay screenshot application. Only a couple output formats worked for me, and I was disseminated to find that you could not make it run in the background and be triggered with a button or something (this is what I was used to in the Palm OS).