How's THAT for feature creep? I'll never finish at this rate. However, now you can have shadows. How fun! Plus you can actually set the alpha component for color values now for even more fun effects.
I wish I could do gradients as was suggested to me in the image of the day comments. But unfortunately TextRenderer.DrawText does not support brushes which are required for GDI+ to do gradients, and frankly I'm too lazy to code a solution myself.
I think it's about time I got back to the main features that I intended to add...