Just wanted to pass along this great tool I found on XDA that allows you to create custom icons based off of previous icons sets as well as new ones that you create. With various options (Overlays, Masks, settings, etc) at your disposal, you can really make some amazing icons. Big thanks to Vrooden for posting this thread:
[WindowsXP/Vista/7][.NET][TOOL] Icon Set-Builder v1.0.1 [2012/09/19] - xda-developers
Check it out and please thank him for his work. Also feel free to share any icons you come up with here as well.