I just want to throw something into the mix here, it's a paid for program and I am a reseller in the UK for it but I am driven to inform people that the vectorisation in the program is very, very good, and very fast. The program is a 'signmaking' program but can also be used for many, many other applications as well, including creating fast designs for DXF export for CNC appications.
Vectorising:Here is a video of the process in real time:
http://www.robocutters.co.uk/vectorise.swf1. The trace needs no cleaning up
2. I didn't tweak anything, this is shown in basic mode and in real time
3. The trace is by colour, more colours add more detail
Using the other parameters makes the trace clearer, but ultimately the more colours you trace the better the resultant black image is as shown in this next video. I can add tweaks which make small differences, (actually that depends on the image) but adding a 4th colour to trace really ups the detail.
This is me playing with the trace parameters, at the end I am trying to select the original image to pull away from the main converted section and then pull away the black portion to demonstrate the better trace. I had to reduce the window size so you could see what I was doing which make the selecting a bit fiddly, but the result is worthwhile.
http://www.robocutters.co.uk/vectorise2.swfI would be interested in comments!