Gregg,
I am using Capesoft Draw and generating the Captcha images to be used for registration.
I have a worker thread that gererates random numbers and letters, uses Draw to create a png image and then add the image name and generated text into a memory table. Every 24 hours the images and memory table are deleted and then recreated.
On the WebForm, I "Display" a random image and have an input field for the user. The image text is saved to a session variable. Using the validation embeds, I check the user input against the session variable.
If it has not already been sugested, I am going to post a feature request for a Captcha template.