VectorMagic is a powerful vectorization online tool.

The main interface is quite simple : bitmap on the left, vector graphics on the right. Before this screen, I just had to upload an image, choose some parameters (is this a photo, a logo or whatever?) determine my final palette (only for logos) and save the resulting EPS file. Magic!

The source bitmap image was this very page Idletogether logo :

As you can see, the resolution is quite bad, but it was a good test for this tool, which performed fairly well, see by yourself by downloading the resulting EPS file (I converted it to PDF) : only the text in not readable, the curves are perfect.

Magic ? Yes, almost. At least it’s a good start when converting bitmap to vector graphics. Go for it!

Still not convinced ? Have a look at their comparison page.