Hi Walter,

>Armadillo seems to have a good record of protecting exe files (whether or not VFP executable).
>http://www.siliconrealms.com

I always forget to mention Armadillo. Thanks for adding it to the discussion.

>AFAIK, it has not been cracked yet.

There had been some claims in the past. Additionally, there are discussions on the web how Armadillo works:

http://xtin.km.ru/view.shtml?id=127

(if you don't speak Russian, you can use http://translation.paralink.com/translation.asp to translate Russian to English).